May
26, 2004
Rusal to invest US$480mn in
alumina plant
(BNamericas.com) - "Russia's largest
aluminum producer Russian Aluminium is set to
invest US$480mn in an industrial complex to produce
2Mt/y of alumina in Caicara del Orinoco in eastern
Venezuela's Bolivar state, a spokesperson from
state heavy industry company CVG told BNamericas.
'The project entails developing bauxite to refine
it and produce alumina for export,' the spokesperson
said. The complex forms part of the US$1bn investment
plan that a Russian economic group is looking
to set up in Venezuela. CVG and Rusal representatives
met to analyze proposals and formalize agreements
on the possible strategic partnership for project
start-up, he said.
'It is necessary to analyze all strategic association
possibilities with the respective alternating
stock options and to define the concession to
be proposed to the energy and mining ministry,'
CVG vice president for industrial promotion Alice
Brandt said in a statement".
