Congressional Democrats want review of Russian investment in Braidy's Kentucky mill [View all]
Several Democrats in Congress have asked for a federal review of a Russian company's forthcoming $200 million investment in Braidy Industries' planned $1.7 billion aluminum rolling mill in Eastern Kentucky.
Last month, United Co. Rusal announced its intention to invest in Braidy's mill in return for a 40% share in the facility, which is set to open fully in 2021 and begin producing aluminum sheet and plate for the automotive and aerospace industries.
This week, Rusal and Braidy said their respective boards of directors had approved the deal, which is slated to close by June 30, according to a joint news release. The Russian company also has said it intends to supply aluminum for Braidy's mill from a smelter that's under construction in Siberia.
The U.S. previously placed sanctions on Rusal, as well as co-owner Oleg Deripaska, a Russian oligarch. The sanctions on Rusal as well as En+ Group, its parent company, were lifted earlier this year.
Read more: https://www.courier-journal.com/story/money/companies/2019/05/17/kentucky-braidy-industry-congress-democrats-want-review-russian-investment/3704124002/
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