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Localization of production of aluminum castings in Russia


Localization of production of aluminum castings in Russia

In 2013, the company "Russian Aluminum" due to the increased price of electricity, the production of aluminum was stopped at the Bogoslovsky Aluminum Plant (BAZ) in the Krasnoturinsk monotown.

In order to employ the dismissed BAZ employees in new production facilities, the Bogoslovsky Industrial Park was created, of which Epsilon became the anchor resident. 

Epsilon Company (part of the Energia Group of Companies) assumed the creation of an enterprise for the production of products from aluminum alloys for the automotive industry, aircraft industry, shipbuilding, high-speed trains with the involvement of external financing, including Vnesheconombank. 

Taking into account the regulations, Vnesheconombank appointed a thorough examination of the feasibility of financing the project.

At the end of 2014 Industrial Information Agency conducted a study of the demand for aluminum castings in Russia. The study became the basis justification of the feasibility of creating an enterprise for the production of castings in Krasnoturinsk, prepared by consulting company NEO-Center.

On July 2, 2015, the first tranche of the Monotowns Development Fund (established by Vnesheconombank) was received in the amount of 189.9 million rubles for the development of the Industrial Park.  See link

Money was used for the construction of off-site infrastructure facilities of the industrial park:

electricity, gas, heat, water supply, sanitation and communications networks. See link