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Russia's Deripaska in talks on Chinese projects

Tuesday, Sep 11, 2012
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  Russian tycoon Oleg Deripaska, co-owner of aluminium giant RUSAL, said he is in discussions on several projects in China as he aims to benefit from Chinese plans to pump $158 billion into infrastructure projects.

  "We have a discussion on many different projects with Chinese companies on developing of ports, developing of new mines, increasing production at existing facilities," he told Reuters Television on the sidelines of an Asia-Pacific summit in Vladivostok at the weekend.

  Deripaska, whose businesses range from metals to construction and aviation, gave no further details of the discussions.

  Prices of shares and metals jumped last week on news of the 60 projects - to build highways, railways, ports and airports - which raised hopes China may be able to recover from its worst economic growth slowdown in three years.

  Deripaska said he was not concerned about a possible slowdown in China, which is targeting 2012 economic growth of 7.5 percent - one of the world's highest but still the country's weakest in at least 13 years.

  "There is no doubt they will keep growing," he said.

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