Rusal wants to negotiate with banks on debt resturukturizatsii in March 2009

OK Rusal counts in March 2009. to negotiate with banks on a moratorium on payments of principal, told reporters the general director and principal shareholder, Oleg Deripaska. "We already have a mechanism for how to deal with this duty. Negotiations with the banks are constructive, Rusal hopes to sign an agreement on a moratorium on payments on the principal debt at the beginning of March," - he said.

"Then we will have 3-4 months to agree on a restructuring. The crisis exposed the problems with overproduction, in II quarter will be closed more smelters because the produce aluminum at a cost of 1.3 U.S. dollars per ton can not nobody You need to price was at least 1.6 thousand dollars per ton ", - added the head of Rusal, the words which leads RBC.

In his opinion, after the crisis will be three centers for the production of aluminum - Russia, the Middle East and China (due to growing domestic demand). "Banks are aware of, so I see no reason not to agree on debt restructuring. Indeed, they also need to somehow be earning money. Another point is that the value of our debt is now less than 4% per annum, the banks would like to change this figure and we understand it. We carry out our program to improve efficiency and has already gone through the most important stage of the optimization of production and reduction ", - stressed businessman.

Talking about debt, Deripaska said that to attribute it to $ 30 billion in debt - "wrong." "This figure is close and not standing," - he emphasized. According to him, that the debts of companies, including those where it is the only one of the shareholders, the duty "Bazela less than $ 1.5 billion total debt RusAl is $ 16.3 billion

Deripiska added that his company does not need the financial support of the state. He said Rusal in 2008, worked to zero, while the majority of aluminum companies in 2008 was a loss.

www.k2kapital.com
22.02.2009