Russian Aluminum, the Russian aluminum giant, plans to spend about $7 billion in the next 10 years to build new plants, make acquisitions and upgrade smelters.
The company may invest as much as $2 billion to buy new assets, another $4 billion to build new plants and $1 billion to upgrade existing facilities, Oleg Deripaska, Moscow-based RusAl's controlling shareholder, said on the company's web site.
"We need to create and keep advantages that would enable RusAl to win the competition with global aluminum giants," Deripaska said.
RusAl plans "to build and acquire new capacity in Russia's Irkutsk region, Kazakhstan, Tajikistan, India, Nigeria and Guinea," he said.
Sources say RusAl may sell Eurobonds in 2006 and offer shares to the public in 2007.
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Russian Aluminum Giant Gets Aggressive
Company plans $7 billion expansion with future public offering...
