Russian Aluminum, the world's second-largest aluminum producer, said that it will build a new plant worth $1.2 billion to $2 billion in eastern Russia.
Russian Aluminum will start building the plant, which is designed to produce 500,000 metric tons of aluminum a year, in 2005. Construction of the plant will take up to two years, the Vedomosti newspaper said.
RusAl plans to raise its aluminum output by one million tons, or 40 percent, over the next 10 years, during which it expects to see a significant growth in international demand for the metal the newspaper said. Dow JonesLatest from Recycling Today
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