Click here to close now.

SYS-CON MEDIA Authors: Ian Goldsmith, Ed Featherston, Elizabeth White, Pat Romanski, Liz McMillan

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
SYS-CON Events announced today that the "First Containers & Microservices Conference" will take place June 9-11, 2015, at the Javits Center in New York City. The “Second Containers & Microservices Conference” will take place November 3-5, 2015, at Santa Clara Convention Center, Santa Clara, CA. Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities.
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud en...
Can the spatial component of your Big Data be harnessed and visualized, adding another dimension of power and analytics to your data? In his session at Big Data Expo®, John Meza, Product Engineer and Performance Engineering Team Lead at Esri, discussed the spatial queries that can be used within the Hadoop ecosystem and their integration with GeoSpatial applications. The GIS Tools for Hadoop project was also discussed and its implementation to discover location-based patterns and relationships...
“We are strong believers in the DevOps movement and our staff has been doing DevOps for large enterprise environments for a number of years. The solution that we build is intended to allow DevOps teams to do security at the speed of DevOps," explained Justin Lundy, Founder & CTO of Evident.io, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
You often hear the two titles of "DevOps" and "Immutable Infrastructure" used independently. In his session at DevOps Summit, John Willis, Technical Evangelist for Docker, will cover the union between the two topics and why this is important. He will cover an overview of Immutable Infrastructure then show how an Immutable Continuous Delivery pipeline can be applied as a best practice for "DevOps." He will end the session with some interesting case study examples.
Docker is becoming very popular--we are seeing every major private and public cloud vendor racing to adopt it. It promises portability and interoperability, and is quickly becoming the currency of the Cloud. In his session at DevOps Summit, Bart Copeland, CEO of ActiveState, discussed why Docker is so important to the future of the cloud, but will also take a step back and show that Docker is actually only one piece of the puzzle. Copeland will outline the bigger picture of where Docker fits a...
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
SYS-CON Media named Andi Mann editor of DevOps Journal. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. DevOps Journal brings valuable information to DevOps professionals who are transforming the way enterprise IT is done. Andi Mann, Vice President, Strategic Solutions, at CA Technologies, is an accomplished digital business executive with extensive global expertise as a strategist, technologist, innovator, marketer, communicator, and thought lea...
Announced separately, New Relic is joining the Cloud Foundry Foundation to continue the support of customers and partners investing in this leading PaaS. As a member, New Relic is contributing the New Relic tile, service broker and build pack with the goal of easing the development of applications on Cloud Foundry and enabling the success of these applications without dedicated monitoring infrastructure. Supporting Quotes "The proliferation of microservices and new technologies like Docker ha...
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. 8th International Big Data Expo, co-located with 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. As advanced data storage, access and analytics technologies aimed at handling high-volume and/or fast moving data all move center stage, aided by the cloud computing bo...
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists will address the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affec...