ROSATOM and United Company RUSAL to establish an energy and metals complex

ROSATOM and United Company RUSAL have signed a memorandum on the joint implementation of long-term investment projects. The signed document provides for the detailed exploration of opportunities to establish an energy and metals complex in the Far East comprising a nuclear power plant and an aluminium smelter.

ROSATOM and United Company RUSAL plan to carry out a feasibility study of the project in the Far East by the end of 2007. After the approval of the feasibility study specifying parameters of the nuclear power plant and aluminium smelter, the parties will set up a detailed schedule for implementation of the project.

Commenting on the agreement, Alexander Bulygin, CEO, United Company RUSAL, said: «We consider the cooperation with ROSATOM to be one of the key areas of our growth as an energy and metals corporation. Our participation in the development of the Russian nuclear power industry will not only foster the implementation of Russia's energy security strategy but will also enable us to expand and diversify the company's energy base through using state-of-the-art international technologies.»

Sergey Kirienko, Head of ROSATOM, said: «ROSATOM has an ambitious programme of nuclear power development that includes modernisation of the operating. The programme will provide a platform for an economic upturn across large areas of the country.»