UC RUSAL signs agreement for world's largest aluminium smelter

Russian aluminium giant UC RUSAL said it has signed a cooperation agreement with the government of Russia's Saratov region for the construction of a major energy and metals complex. The complex will include a significant expansion of the Balakovsky nuclear power plant, with UC RUSAL building the 5th and 6th reactor blocks, generating 2,000 MW, and the construction of the world's largest aluminium smelter, with an annual production capacity of 1.05 million tonnes. The overall budget will be defined on completion of a feasibility study, expected by the end of 2008. The agreement will become effective once the construction of the second stage of the Balakovsky power plant is approved by the Federal Nuclear Agency (ROSATOM).