The companies signed a letter of intent to prepare a feasibility study and a financial substantiation plan for full-cycle aluminum production in Venezuela, from the extraction of raw materials to the rollout of high added-value products.
The parties signed the document during Venezuelan President Hugo Chavez's visit to Russia.
The feasibility study will focus on prospecting, mining, transportation, and processing of bauxites, and the production of alumina, primary aluminum, and high added-value aluminum products.
SUAL has enterprises in nine Russian regions and in Ukraine, and annually mines over 5.4 million metric tons of bauxite, some 2.3 million metric tons of alumina, over 1 million tons of primary aluminum, and about 60,000 metric tons of silicon. It also manufactures aluminum products, including foil, wire, and wheel rims, and exports 80% of its production.
