Sberbank Backs $200 million Aluminum Plant in Krasnodar

Sberbank Backs $200 million Aluminum Plant in Krasnodar

Anatoly Pesennikov, Chairman of Sberbank’s South-West Bank, and Alexander Simakov, General Director of Armavir Metallurgical Company, have signed a cooperation agreement to finance the construction of a full-cycle foundry and press plant in Armavir, Krasnodar Territory. The project, part of the RIAC Group, is a long-term investment exceeding 21 billion rubles (approximately $200 million), as reported by Kuban 24.

In the first stage, the plant will focus on producing aluminum ingots. The second stage will involve the production of aluminum profiles, with a design capacity of up to 60,000 tons annually, according to Pesennikov.

Simakov highlighted the project’s priority status with support from the Russian Ministry of Economic Development. He emphasized that the new production will fully replace imported products, essential for applications such as architectural glazing, the production of “Lastochka” electric trains, high-speed railways, and electric cars. icon

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