RUSAL, China's company sign deal on aluminium

MOSCOW (Itar-Tass) - Russia's RUSAL, the world's top
aluminium producer, and China's Xinshan Aluminum Industry Demonstration
Park have signed a memorandum of cooperation to produce bauxites,
aluminium and alumina.
Under the document Rusal will export its technologies to China, design
and build alumina and aluminium smelters on the territory of Xinshan, the
company said in a statement on Monday.
The two companies also eye a joint venture on geological surveying and
mining of bauxites in the countries of the Asia-Pacific Region.
"Due to unprecedented rates of urbanization China demonstrates a
steadily growing demand for aluminium. It is expected that in 2011 the
aluminium consumption may grow by 12 percent to 18.5 million tonnes, which
will require both increased imports and domestic production," said RUSAL
First Deputy CEO Vladislav Solovyev.
He noted that the company "is ready to become a reliable partner for
China in both in the development of a necessary raw material base and the
construction of new production capacities."
Within two months the companies would set up a working group to
analyse details of joint projects.