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RusAl Seeks to Reduce Rates

United Company RusAl said Friday that it is seeking to negotiate lower power tariffs with Ukraine to restore profitability to its Zaporizhzhya smelter in the country, while also considering other options for the plant.

The tariffs are 6.5 U.S. cents a kilowatt-hour, compared with 2.5 cents for their Siberian operations, said first deputy chief executive Vladislav Solovyev.

He declined to comment on an Ukrainski Novyny newswire report that RusAl may sell the Ukrainian smelter.

RusAl is seeking lower rates, while studying different options for the site, Solovyev said. 

(Bloomberg)


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