Reuters
RUSAL invites China to invest in Siberia
Edited by : AL CIRCLE
1 min read
Russia's RUSAL, the world's largest aluminium producer, wants Chinese companies to consider investment in Siberia and joining in bauxite exploration overseas, its deputy CEO said on Friday.
"RUSAL proposes China consider Siberia as an alternative (to domestic projects)," Oleg Mukhamedshin, head of RUSAL's equity and strategic development, told a Metal Bulletin aluminium conference in Moscow.
China, which accounts for 44 percent of global aluminium consumption, needs to invest in new projects to meet increasing demand over the next 5 to 10 years, Mukhamedshin said.
Mukhamedshin said Siberia had the benefit of access to hydro energy in Siberia, bauxite resources and aluminium capacity along with proximity to China. Delivery from Russia's Far East ports to Shanghai takes from 4 to 8 days.
Mukhamedshin also said that RUSAL had delayed its Taishet project, which was expected to start producing metal in 2013 and eventually reach an annual capacity of 750,000 tonnes. The company expects to start production no earlier that in 2014.
"RUSAL proposes China consider Siberia as an alternative (to domestic projects)," Oleg Mukhamedshin, head of RUSAL's equity and strategic development, told a Metal Bulletin aluminium conference in Moscow.
China, which accounts for 44 percent of global aluminium consumption, needs to invest in new projects to meet increasing demand over the next 5 to 10 years, Mukhamedshin said.
Mukhamedshin said Siberia had the benefit of access to hydro energy in Siberia, bauxite resources and aluminium capacity along with proximity to China. Delivery from Russia's Far East ports to Shanghai takes from 4 to 8 days.
Mukhamedshin also said that RUSAL had delayed its Taishet project, which was expected to start producing metal in 2013 and eventually reach an annual capacity of 750,000 tonnes. The company expects to start production no earlier that in 2014.
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