Rusal sells 50% of Ekibastuz coal assets to Samruk (Kazakhstan).

/REUTERS, Almaty/Moscow, April 17, 08/ - The unite company Rusal sells 50% of Ekibastuz deposit of coal assets to Kazakhstan state holding Samruk, within JV - is told in Rusal information. In accordance with agreement, Samruk will pay $345 m. to Rusal. In November, 2007 Rusal and Samruk agreed to found JV for developing of coal and power projects in Kazakhstan. Within JV, Rusal and Samruk intend to extract and supply coal on Russian and Kazakhstan markets. The companies also intend to examine opportunities of coal using for power assets. "Yesterday, the signing between Samruk-energo (100% daughter organization of state holding Samruk) and united company Rusal took place. The contract about purchase and sale 50% of coal reserves shares of Bogatyr and Severniy" - informed the head of press service of state holding Samruk, Murat Buldekbaev over the telephone from Astana "We purchase assets, which earlier were transmitted to private persons" - he added. These assets, by his words, are of strategically importance for the Government, as allow realizing projects on volume increasing of electricity generation and supplying it to energy deficit southern regions of Kazakhstan. The total reserves of 2 open-pit mines, in Ekibastuz (Pavlodar region) apprised in 4.5 bn. ton. They give 42 m. tons of coal in a year or nearly the half of total extraction in Kazakhstan. United company Rusal was founded in March, 2007 by merger of hugest in Russia aluminum producer Rusal with standing down in size rival Sual and aluminous assets of Swiss trading company Glencore. Ekibastuz deposit before merger, belonged to Sual shareholder - Access Industries, the American company of multi-millionaire Leonardo Ballavatnik. Not long ago, before merger, Sual announced its plan to found aluminum plant in Ekibastuz with the price of $1.5 bn. for production 500.000 tons of metal since 2011. The sides intend to finish all legal and organization procedures within JV till September, 2008. [2008-04-17]