Russian company to invest in Kentucky aluminum mill


FRANKFORT, Ky. (AP) — An aluminum firm planning to construct a $1.7 billion plant in Appalachia is forming a partnership with a Russian firm that until just lately faced U.S. sanctions. Russian aluminum big Rusal needs…

FRANKFORT, Ky. (AP) — An aluminum firm planning to construct a $1.7 billion plant in Appalachia is forming a partnership with a Russian firm that till just lately faced U.S. sanctions.

Russian aluminum big Rusal needs to take a position $200 million in an aluminum rolling mill that Braidy Industries intends to construct close to Ashland, Kentucky.

Rusal says it might assume a forty % possession share within the mill in return for the funding. Braidy Industries would hold the opposite 60 % share.

Braidy introduced plans for the mill two years ago, but the undertaking stalled because it worked to finish financing. Kentucky Gov. Matt Bevin, who is in search of re-election this yr, touts the challenge as evidence of his leadership in bringing jobs to Appalachia.

The U.S. Treasury Division eliminated Rusal from its sanctions listing in January.

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