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"Rusal" and "ELSO" will create a new joint venture

5 January 2015

The combined company «RUSAL», together with «ELSO» signed an agreement on the establishment of the joint venture «Russian radiator.» Production activities will focus on the production of aluminum radiators. Also, «RUSAL» signed an agreement with the Republic of Karelia. He regards cooperation within the framework of the development of production of new products in the village Nadvoicy. Industrial site for the production of new aluminum radiators will Nadvoitsky aluminum plant.

The project is expected to invest about 9.4 million. USD. The new production will start in the 3 rd quarter of next year. Initial annual production capacity of the «Russian heat sink» will be about 2 million. Sections. By 2019, production will reach its full capacity. At this stage, production capacity will reach 4 million. Sections. For the organization of the volume of production, «RusAl» plans to supply about 4,000 tonnes a year of aluminum. Production made by the joint venture is intended solely for the Russian market and the CIS-countries. According to Vladislav Soloviev, General Director of «Rusal», the project is not only socio-economic importance. It fully meets the most important tasks of the state with respect to import substitution. The main goal of the new enterprise — production of domestic goods with added value. Before the creation of «Russian heat sink» about 90% of similar products supplied from the EU and China.

Under the terms of the agreement, the participants commit themselves for the organization of the territory of Karelia conditions conducive to the emergence of new jobs. Also, the agreement stipulates the need for inflow of qualified specialists and the organization of production in the region at the required level. Parties are willing to spend engineering training for the realization of the project, based on the technical requirements. For the final completion of the process of creation of the joint venture is necessary to carry out the state registration of «Russian radiator.» The joint venture will provide more than 100 jobs for residents Nadvoicy.

«Rusal» implementing the project in the framework of our strategy to re-inefficient enterprises. Already planned creation of capacities aimed at the production of products based on aluminum and its alloys.

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