Rusal signed a memorandum of cooperation with the Chinese

The largest Russian aluminum manufacturer Rusal and the aluminum corporation of China Chalco signed a memorandum on the development of cooperation in the aluminum industry. The two largest transnational corporations agreed to jointly carry out research work in the field of new technologies for the aluminum industry, cooperate in the development of bauxite resources, as well as direct joint investments in the production of aluminum using hydropower. This is stated in a joint statement of companies.

The memorandum of mutual understanding and cooperation was signed during the officially visit by the chairman of the PRC of Xi Jinping to Moscow.

According to the General Director of Rusal oleg Derpaska, partner agreements of the two largest aluminum companies in the world will be the first step towards resolving the problem of reproduction. "The cooperation program provides for the replacement of obsolete and economically ineffective capacities with new energy -efficient plants in Eastern Siberia. The companies will also look for new technological solutions for the aluminum industry, demonstrating their commitment to sustainable development," he emphasized.

In turn, the president of the Chinese aluminum corporation Sun Vaipin said that his company has a high scientific and technical potential, and russal access to hydraulic resources and modern aluminum production technologies. “Together we will work at various levels in the aluminum industry, using all our advantages as much as possible, thereby contributing to the stable development of the industry,” added Sun Weipin.

When signing a memorandum, the parties enlisted the full support of their governments and intend to combine the competitive advantages of their countries to reduce energy, expand sales markets, invest in the development of high-quality projects in the global mining industry, ITAR-TASS reports.