ENRC seeks $2 billion loan to increase aluminium capacity

Kazakhstan needs $3 billion to boost copper and aluminium output in Central Asian nation and seeks loans from China to build two new plants said Minister Albert Rau, Kazakh Deputy Investment and Development.

ENRC Group, which delisted from the London Stock Exchange in 2013, wants to double its current aluminium out of 250,000 thousands and seeks a loan of around $2 billion for it.

The company produces alumina and aluminium and also deals with iron ore although there main business is the production of ferroalloys. However they are now trying to double their aluminium capacity by launching two new production stages each with a capacity of 125,000 tons, said Rau.

Kazakhstan also wants to boost processing of the metal along with the increase in production.

"We are first and foremost interested in producing car discs and, in general, in whatever aluminium can be bashed into. Each side of the project (aluminium production and processing) is worth $1 billion."

"Today we produce 250,000 tons of aluminium, but process just 30,000 to 40,000 tons," Rau said.