Report: UC RUSAL to invest $3 billion in China within 7 years

Russian aluminum giant United Company RUSAL plans to invest up to U.S. $3 billion within the next seven years in China, where construction work will fuel demand for aluminum, China’s South China Morning Post reported Thursday citing RUSAL’s CEO Alexander Bulygin.

The paper said that RUSAL planned to build up to four production plants in China and was considering several locations in the northern region.

RUSAL already controls two cathode plants in Shanxi province and is now considering building an anode plant and foil production plant in China, the paper added.

The paper also said that the aluminum giant planned to team up with China Power International Development Ltd to construct a bauxite and alumina refinery in Guinea and an aluminum smelter in China.

RUSAL accounts for about 12% of the world’s aluminum market. In 2007, it produced 4.2 million tonnes of aluminum.