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Russia's Rusal, India's Runaya to set up joint venture for aluminum production

Tokyo — Russian aluminum-producer Rusal and India's Runaya Metsource have plannedto set up a joint venture for producing aluminum paste and powder in India,Rusal said on Wednesday.

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The companies will jointly set up a plant in India to produce 10,000mt/year of aluminum paste and powders. The plant site will be finalized afterregistration of the proposed joint venture. Its commercial operation isplanned to begin in 2018.

India, Southeast Asia and the Middle East are the target markets.

"Rusal's long-lasting experience in production of aluminum powders andpastes, as well as Runaya Metsource's strong position as a local player,create solid competitive advantages," commented Alexey Arnautov, Rusal'sdirector for new projects.

The two companies will each hold 50% stake in the joint venture.

--Mayumi Watanabe, mayumi.watanabe@spglobal.com

--Edited by Arnab Banerjee, arnab.banerjee@spglobal.com