LONDON, April 23 (RIA Novosti) - The U.S.-based aluminum giant Alcoa [NYSE: AA] plans to double investment in its aluminum production in Russia to $500 million, the company's president for Russian operations said Monday.
Bill O'Rourke, who spoke April 23 at the 10th Russian Economic Forum in London, said Alcoa, the world's leading aluminum producer, intended to channel investment into modernizing its facilities in the Rostov Region in southern Russia and the Samara Region in the Volga area.
O'Rourke said Alcoa expects aluminum consumption in Russia's construction and aircraft-making to expand. Russia's current aluminum consumption stands at five to six kilograms (10 to 12 pounds) per person, compared with 40 kilograms (80 pounds) in the United States, he said.
Alcoa, the world's leading producer of primary aluminum and fabricated aluminum, has 123,000 employees in 44 countries.
