The world’s largest aluminum producer, Rusal, has completed a deal with the leading Export-Import Bank of China to develop a $850 million greenfield project in Eastern Siberia. The plant will supply Rusal's aluminum smelters in Eastern Siberia who can then meet China's growing demand for aluminum, Rusal said in a statement. With the new plant located close to its key consumers, Rusal plans to shorten the supply chain and to cut costs. Rusal hopes that boosting cooperation with China will lead to a recovery in the aluminum market by 2013, if it also cuts production. “All producers should take responsibility for decisions on production volumes and more actively cut unprofitable production," Oleg Mukhamedshin, Rusal's head of equity and corporate development told Reuters. "This particularly suggests China."
http://rt.com/business/news/rusal-china-bank-deal-181/
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