UC Rusal Says To Build Foil Packaging Plant In Moscow Region

LONDON (Dow Jones)-Russian aluminum producer UC Rusal is to build a foil packaging plant near the city of Dmitrov in the Moscow region, the company said Wednesday.

The plant will have an annual capacity of 20,000 metric tons and will increase UC Rusal’s share of the Russian foil and foil-based packaging market by up to 66%, the company said, without giving further details.

The project investment will amount to approximately $20 million. Construction will begin in 2008 with first production scheduled for the end of 2009.

The foil for the plant will be shipped from Armenal, Sayanal, and Ural Foil, UC Rusal’s major foil mills.