|UC Rusal, Russia’s largest aluminum producer, signed a contract with Norinco (China North Industries Corporation) for aluminum delivery. Under the contract, UC Rusal will supply 1,680,000 tonnes of its aluminum to NORINCO between 2010 and 2016.
The metal will be shipped to NORINCO from UC Rusal’s Siberian smelters, which are favorably located in proximity to UC Rusal’s Chinese clients. The shipments will be made in standard ingots of 15-25kgs/piece.
The new agreement may help the Russian corporation to repay a part of its huge debts estimated at $17 billion.