Rusal to implement bauxite projects in Venezuela

Rusal to implement bauxite projects in Venezuela

Russian Rusal wants to develop bauxite projects in Venezuela, Vietnam, Brazil and Jamaica, said Pavel Ulyanov, director of corporate strategies and development of the company, the third producer of aluminum in the world.

According to Ulyanov, the company plans to invest USD 16.7 billion until 2013 in energy, mining and aluminum projects.

The executive officer explained that Rusal could fund the projects without trading its shares in the stock exchange, Reuters reported.

“If needed, and if we cannot find the internal resources, we will have to use an initial public offering as tool. But, under the estimates we have now, we do not deem it necessary,” Ulyanov asserted.

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