Russian metallurgists take Chinese loans

It is known that "Rusal" Oleg Deripaska and "Metalloinvest" Alisher Usmanov will receive loans of several billion dollars from Chinese banks. In particular between Vnesheconombank and the China Development Bank agreed to finance the first phase of the last Taishet aluminum plant "Rusal". For these purposes the Chinese bank will loan $ 1.5 billion. Also, Industrial and Commercial Bank of China will provide the Baikal Mining Company, the copyright of "Metalloinvest" - a loan to develop the huge Udokan copper deposit in Russia. And the whole "Metalloinvest" planned to raise about $ 3.8 billion to develop the Udokan, containing about 60% of all known reserves of copper in Russia.