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News

Sino-Soviet aluminium agreements will lead to Siberian smelter

UC RUSAL : 16 October, 2012  (Company News)
UC Rusal has signed a co-operation agreement with the Ministry of Economic Development of the Russian Federation on realisation of Rusal’s joint projects with Chinese partners.

In particular, the Ministry of Economic Development and Rusal plan to work closely within the framework of a potential joint venture with the Chinese partners to build an aluminium smelter in Siberia with an estimated design capacity of 800,000 tpa, using hydropower as the primary energy source.

In accordance with the agreement, the Ministry of Economic Development will provide Rusal with consultancy and informational and organizational support, to include assistance with establishing contacts with foreign governments, inter-governmental commissions and various bilateral meetings, preparation of respective “roadmaps”, updates on the economic situation and advice on business issues, as well as participation and support in the negotiations.

Rusal will provide the Ministry of Economic Development with all the information and suggestions in relation to any activities aimed at developing closer co-operation with the Chinese government and businesses, as well as with trade missions.

The agreement was signed by Andrei Belousov, Minister of Economic Development of the Russian Federation, and by Vladislav Soloviev, First Deputy CEO of Rusal. “We have constantly confirmed that China is a priority market for RUSAL’s development. The signing of the agreement with the Russian Ministry of Economic Development aims to reinforce our joint efforts to increase the presence of Russia in the region. We understand that despite the challenging economic situation globally, now is the time to lay the foundation for development of Siberia and the Far East, as these regions will be driving Russia’s growth in the years ahead,” commented Mr Soloviev.

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