FOX Business

By Joe Williams

Rusal is seeking to pour $200 million in Kentucky-based Opens a New Window. Braidy Industries, the Russian aluminum giant’s first investment Opens a New Window. in the country since resolving Opens a New Window. a sanctions Opens a New Window. dispute Opens a New Window. with the Trump administration.

Under the terms of the 10-year agreement with controlling company En+ Group, Rusal will be Braidy’s sole-source provider of low-carbon aluminum for its new $1.6 billion rolling mill slated to open in 2020 in northeast Kentucky, the firms said on Sunday. The investment will give Rusal a 40 percent share in the facility and En+ Group Executive Chairman Lord Gregory Barker will serve as co-chairman of the new mill alongside Braidy CEO Craig Bouchard.

The aluminum industry is racing to lower the amount of carbon emitted in the production process. Alongside Rusal’s efforts, Pittsburgh-based Alcoa Corp., Apple Inc. and Rio Tinto Group are developing a process that would rid carbon from the smelting process, replacing it with oxygen emissions. For Braidy, Rusal was the only supplier that could provide the necessary 200,000 tons of low-carbon slab a year, according to Bouchard.