KAP sold to Russian Rusal for €48.5m

The representatives of Montenegrin Government and Russian Rusal have signed the contract on sale of 65% of stocks of Aluminum Combine Podgorica (KAP). KAP was sold for €48.5m and Rusal will pay additional 27 million USD to the Government for projects "of exceptional public interest". Rusal has, also, obliged to invest €55m in modernization of KAP, whereas €20m will be invested in environment protection.

For the first time it is represented that the formal owner will be the company of Russian businessman Oleg Deripaks - Eagle Capitol, which also owns Rusal and company Solomon Enterprises, founded on Cyprus, for the sake of procurement of KAP.