UC RUSAL said it has signed an agreement with French energy giant AREVA, to form a 50-50 joint venture in Russia that will produce electrical equipment for aluminium smelters.
Established in Russia's Yekaterinburg on the base of the Russian Power Engineering Company, over the next 5 years the JV is expected to produce and deliver US$500m worth of equipment for the modernisation of existing operations and expansion programmes as well as for greenfield aluminium smelters.
Commenting on the announcement, Valeriy Matvienko, UC RUSAL's Head of Engineering & Construction Division, said: "In view of UC RUSAL's many new initiatives, including energy-related projects and modernisation of the operating aluminium smelters, we need to increase supplies and after-sales service of electrical equipment."
The joint venture will initially supply UC RUSAL's Sayanogorsk and Bratsk smelters and then rectifier stations to two of the company's new projects—the Boguchanskiy and Taishet smelters.
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