RusAl to Build in Venezuela

Russian Aluminum has agreed to build an alumina plant in Venezuela that may require investment of $1 billion, Prime-Tass reported Wednesday, citing Russian Deputy Prime Minister Vladimir Yakovlev during his visit to Caracas, the Venezuelan capital.

Siloviye Mashiny and Energoprom also expressed interest in plans to upgrade a Venezuelan hydropower plant.

Russian Aluminum officials were not immediately available to comment on the report.