Alexander Bulygin, formerly director general of RusAL, and Viktor Vekselberg, formerly chairman of the SUAL board, were appointed head and chairman of the board, respectively.
United Company RusAl, where Russia's aluminum giants RusAl and SUAL [RTS: SUAL] hold 66% and 22%, respectively, and the Swiss-based commodities and raw materials supplier Glencore 12%, plans to hold an IPO within three years.
In an interview with the Kommersant business daily Alexander Bulygin said: "We have assets worth $15 billion, and we could invest a similar amount in the next 15 years."
The businessman said his company's priorities are gas, coal and nuclear and hydro energy.
Bulygin said that together with affiliated companies, RusAl today meets just 65% of its own demand for electricity.
"We plan to build a thermal power plant or a hydro power plant with capacity of 1,200 MW for energy supplies to the Novokuznetsk Aluminum Smelter (NkAZ) [subsidiary]," Bulygin said.
The RusAl CEO said the United Company was eyeing energy assets in Australia, Guyana and the UAE, and was equally interested in territorial and wholesale generating companies.
Bulygin said that his company was also planning to expand business in the commodities sector, and was considering fields in India, China and Vietnam.
The company also intends to build an aluminum plant in Taishet, Irkutsk Region in West Siberia, with a capacity of 750,000 metric tons, and the Boguchany aluminum plant, with a capacity of 600,000 metric tons.
It will also bring the Khakas Aluminum Smelter to full capacity and launch the Alscona plant in Nigeria, with a capacity of 150,000 metric tons.
Bulygin said SUAL's plans to build an aluminum plant in Kazakhstan were linked to the local energy problem. "We will take an interest in the project, as soon as the problem with energy assets in Kazakhstan is solved," he said.
The new company is currently designing a strategy to develop and diversify its business, which should be approved by the board, Bulygin said.
United Company RusAl has bauxite and aluminum producing assets on five continents in 17 nations. Its annual turnover is expected to hit $12 billion. The company aims to produce over 11 million tons of primary aluminum a year and control 12% of the world's primary aluminum market.
Apart from increasing production volumes, United Company RusAl intends to further develop its corporate management system.
