Welcome!

News Feed Item

UC RUSAL and Shandong XINFA to Study Aluminium Joint Venture Opportunities

Moscow, Dec 6, 2012 - (ACN Newswire) - UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, Moscow Exchange: RUALR/RUALRS), the world's largest aluminium producer, announces signing a Memorandum of Understanding ("MOU") with Shandong Xinfa Group, one of China's largest private aluminium companies, detailing the study of future possible cooperation areas, including joint ventures in the aluminium industry.

The Memorandum was signed at the day of Russian and Chinese heads of government meeting. RUSAL and Shandong Xinfa have agreed to establish a joint workgroup over the next three months from date of signing to study potential areas of cooperation. The parties will then examine the proposals from the workgroup until the 30 June 2013 to identify cooperation projects which offer the greatest potential.

Preliminary examined opportunities between RUSAL and Shandong Xinfa include the creation of Russian-based joint ventures in aluminium smelting, and joint alumina and bauxite projects including ones in third countries. The MOU envisages joint effort to secure investment for the future projects from Chinese lenders. The legal detail of any future cooperation is still subject to further, separate discussion.

Joint projects in aluminium smelting in the Russian Federation and further export of aluminium to China was discussed the previous day within the framework of the 16th meeting of Joint Commission for the Regular Meetings of Heads of Government and Sino-Russian Energy Dialogue, in the context of greater energy efficiency and rational industry development goals. The parties agreed to promote the cooperation in this area between Russian and Chinese companies.

"Russia and China are not only neighbors, but actively emerging countries, who have a lot to offer each other. Volatility in the metal markets and growing global demand for aluminium has caused production costs and energy prices to rise. China as one of the world's aluminium industry drivers has therefore, been forced to search for ways to transfer primary aluminium production abroad. Siberian regions of Russia are an obvious top pick not only because of its top-line aluminium smelting greenfields but the entire industrial clusters. We are ready to undertake all efforts to develop the Sino-Russian economic cooperation, favorable to both countries", said UC RUSAL's CEO Oleg Deripaska.

"We welcome the signing of this Memorandum and hope that jointly, with RUSAL, in the near future will finalize a list of cooperation opportunities and move closer to action. I am confident that we can build a solid long-term partnership, demonstrating efficient Sino-Russian cooperation", commented Shandong Xinfa Group Chairman Zhang Gang.

About Shandong Xinfa Group

Shandong Xinfa Group is one of the largest aluminium producers in China. Xinfa Group operates own power generating capacities, alumina refineries, primary aluminium production, aluminium downstream fabrication lines, produces caustic soda, PVC, anodes and other products. The Group consists of more than 50 companies and employs 60 000 people.


About UC RUSAL

UC RUSAL (www.rusal.com) is the world's largest producer of aluminium, in 2011 accounting for approximately 9% of global production of both aluminium and alumina respectively. UC RUSAL employs about 74,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Korean, Chinese, South East Asian and North American markets. UC RUSAL's ordinary shares are listed on The Stock Exchange of Hong Kong Limited (Stock code: 486), global depositary shares representing UC RUSAL's ordinary shares are listed on the professional compartment of Euronext Paris (RUSAL for Reg S GDSs and RUAL for Rule 144A GDSs), and Russian depositary receipts that are issued on common shares of the Company are listed on MICEX-RTS (RUALR) stock exchange.

Disclaimer
The information contained in this press release is for media advice only. The contents are true and accurate at the time of publishing, however, may change over time.

Source: UC RUSAL

Contact:
Vera Kurochkina
+7 (495) 720-51-70
[email protected] 




Copyright 2012 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
If you had a chance to enter on the ground level of the largest e-commerce market in the world – would you? China is the world’s most populated country with the second largest economy and the world’s fastest growing market. It is estimated that by 2018 the Chinese market will be reaching over $30 billion in gaming revenue alone. Admittedly for a foreign company, doing business in China can be challenging. Often changing laws, administrative regulations and the often inscrutable Chinese Interne...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue an...
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
Digitization is driving a fundamental change in society that is transforming the way businesses work with their customers, their supply chains and their people. Digital transformation leverages DevOps best practices, such as Agile Parallel Development, Continuous Delivery and Agile Operations to capitalize on opportunities and create competitive differentiation in the application economy. However, information security has been notably absent from the DevOps movement. Speed doesn’t have to negat...
Leading cloud-centric IT organizations are establishing core capabilities to improve productivity, control costs and provide a highly responsive end-user experience. Key steps along this journey include creating an end-user cloud services catalog, automating workflows and provisioning, and implementing IT showback and chargeback. In his session at 19th Cloud Expo, Mark Jamensky, executive vice president of Products at Embotics, will walk attendees through an in-depth case study of enterprise I...
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...