Lexington Herald Leader

By Will Wright

Braidy Industries, which plans to build a $1.7 billion aluminum mill near Ashland, will partner with a Russian company previously blacklisted by the U.S. government for alleged meddling in the latest presidential election.

Rusal, one of the largest aluminum producers in the world, announced in a news release Monday that it will invest in the project, taking a 40 percent ownership share of the mill, and provide aluminum to Braidy Industries.

The two companies have entered into a Letter of Intent, and expect to sign a binding document in the second quarter of 2019, according to the release.

The partnership represents a potential $200 million lead investment by Rusal, said Jaunique Sealey, Braidy’s Executive Vice President of Business Development, during a news conference at the New York Stock Exchange.

“Rusal is the only company worldwide which could supply low carbon aluminum at the scale required by Braidy Industries,” Sealey said.