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Alpart sold to Chinese company

Published:Tuesday | July 19, 2016 | 7:37 PM
The Alpart plant was closed in 2009 because of low market price for aluminum and high production costs.

Russian Aluminium Company UC Rusal has announced the sale of Alpart Jamaica to Chinese company Jiuquan Iron & Steel (Group) Company Limited (JISCO).

According to a release posted on UC Rusal's website, the deal amounts to US$299 million.

Since 2015, there have been ongoing negotiations between UC Rusal and JISCO regarding the sale of the Alpart refinery.

The Alpart plant was closed in 2009 because of low market price for aluminium and high production costs.