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SUAL considers producing aluminium in Venezuela
Petroleumworld
LONDON
Petroleumworld.com 07 28 06The SUAL Group and the Venezuelan state-run company Corporacion Venezolana de Guayana (CVG) have signed a protocol of intent covering the development of feasibility study and financial grounds of the construction of an aluminium production complex in Venezuela, as SUAL informs.
The protocol was signed during the visit of Venezuela's official delegation headed by President Hugo Chavez, to Russia.
The parties will study the possibility of prospecting, production, transportation, and processing of bauxites, production of alumina and primary aluminium, as well as the possible production of high-value-added aluminium products.
SUAL Group is a vertically integrated aluminum company that ranks amongst the world's top ten aluminum producers. It comprises 20 businesses that produce bauxite, alumina, primary aluminium, silicon, semi-finished and finished aluminum products.
A controlling stake in SUAL is held by Viktor Vekselberg, Chairman of SUAL-Holding's BOD, and by Leonard Blavatnik, President of Access Industries. SUAL's proceeds under IAS totaled $2.7 billion in 2005, which is an increase of 17.4% y-o-y ($2.3 billion in 2004). EBITDA grew by 40% to $600 million.
Petroleumworld 27 07 06
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