Russian State Corporation Vnesheconombank and United Company RUSAL signed Memorandum of Intent aimed at restructuring RUSAL’s unprofitable plants

Moscow, Russia, 08-10-2013 — /EuropaWire/ — State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and United Company RUSAL entered into a Memorandum of Intent.

The Memorandum provides for enhancing cooperation aimed at restructuring RUSAL’s unprofitable plants.

The parties intend to cooperate in building production facilities to manufacture products of aluminum and its alloys including manufacturing of auto components rolled and cable products. Products are scheduled to be supplied to the Russian market and be in demand by Russian and foreign automakers.

Under the Memorandum RUSAL intends to search for investors as well as provide investors with available industrial sites ensuring supplies of aluminum for manufacturing of products. VEB is ready to explore the possibility of its participation in implementing projects proposed by RUSAL within main lines of its investment and financial activity.

Press Office of Vnesheconombank
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E-mail: press@veb.ru