Rosatom and Rusal sign memorandum on implementation of long-term joint investment projects

09.04.2007 // Press service of the Federal Agency of Nuclear Energy

The Federal Agency of Nuclear Energy (Rosatom) and United Company RUSAL have agreed on implementing long-term joint project in the Far East

Moscow, Apr 8 2007 – the Federal Agency of Nuclear Energy (Rosatom) and United Company RUSAL, the world biggest producer of aluminum and aluminum oxide, signed a memorandum on the implementation of long-term joint  investment projects, particularly, a project for setting up in the Far East an energy metallurgical company comprising an NPP and an aluminum plant.

The agreement is a logical continuation of the cooperation started in Aug 2006. Particularly, the sides are ready to jointly build NPPs and power equipment.

A special working group is preparing a feasibility report on the Far East project. The report is to be ready by the end of this year and will specify the parameters of the NPP and the aluminum plant. As soon as the report is approved, the sides will determine the specific schedule of the project.

Commenting on the agreement to journalists, RUSAL Director General Alexander Bulygin noted: “Our cooperation with Rosatom is one of the key directions of our energy-metallurgical activities. Our participation in the development of the Russian nuclear power industry will not only enhance Russia’s energy security but will also allow us to enlarge and to diversify our energy basis and to adopt modern international technologies.”

The head of Rosatom Sergey Kiriyenko reminded the journalists that Russia is implementing an ambitious program of nuclear energy development, including the modernization of existing NPPs and construction of new ones, which will encourage the economic development of a number of regions. “This form of partnership in implementing such large-scale projects will allow us to fulfill our tasks timely and effectively,” Kiriyenko said.

The sides believe that this project should be implemented in the framework of private-state partnership with the involvement of the investment fund and other centralized sources in the part concerning the building of the network, transport and other infrastructure.
Information about the companies:

United Company RUSAL (www.rusal.com) is the world leading aluminum producer. Its production is exported to 70 countries. The company holds almost 12.5% of the world aluminum and 16% of aluminum oxide markets. The company was founded in Mar 2007 as a result of merger of RUSAL, SUAL and the aluminum oxide assets of Glencore. The company’s enterprises in 17 countries on 5 continents employ a total of 100,000 people.

ROSATOM is a federal agency empowered by the Government of the Russian Federation to implement the state policy, providing state services and managing state assets in peaceful nuclear power engineering, nuclear weapons complex, nuclear fuel cycle, nuclear science, nuclear and radiation safety, nonproliferation of nuclear materials and technologies and international nuclear energy cooperation.