United Company RUSAL invested about $1.6bn in business diversification and production facilities development in 2007, the company’s spokesperson reports.

Last year, RUSAL acquired 25% plus one share of Norilsk Nickel ore mining and processing enterprise from ONEKSIM Group in order to lay the foundation for Russia’s first global diversified mining and metallurgical enterprise. In addition, the company bought the controlling shareholding of Alscon aluminum plant in Nigeria. All the necessary equipment has been installed and is now being tested. The plant will probably have been launched in February 2008, while the total amount of investments needed to make the project work is likely to come to $300m over the period of three years.

UC RUSAL also put up two electrolysis plants on the premises of Irkutsk aluminum plant (these are to be launched early in 2008) and made Khakass Aluminum plant reach its full capacity. The projects cost over $600m and $750m to complete, respectively. Besides, the company started constructing Boguchanskiy aluminum plant with the expected capacity of 600,000 tons of aluminum a year, and Taishetsky aluminum plant in Irkutsk Region with the expected capacity of 759,000 tons of aluminum a year. The project will cost $2bn to complete.