RusAl to set up JV with Areva for equipment production
Russia's newly-created aluminum giant United Company RusAl said Tuesday it would set up a joint venture with France's Areva to produce electrical equipment for aluminum enterprises.
United Company RusAl, established in March through a merger of Russian aluminum giants RusAl and SUAL and Swiss Glencore's alumina assets, signed an agreement Tuesday with Areva to establish a joint venture on a parity basis to produce electricity transmission and distribution equipment for aluminum smelters, RusAl said in a statement. The JV, to be created in the Urals city of Yekaterinburg on the premises of the Russian Power Engineering Company, is expected to produce equipment over a period of five years worth $500 million for RusAl's program to modernize and expand existing facilities, and projects to put the company's new aluminum capacities into operation, the statement said.
RusAl's requirements for electrical equipment up to 2011, including energy-related projects and aluminum smelters under construction, are expected to reach about $1 billion, the statement said. The company has been successfully cooperating for over two years with Areva, which offers its customers technological solutions for CO2-free power generation and electricity transmission and distribution, the statement said. (rian.ru)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.