Rusal to invest heavily in Siberian projects

KRASNOYARSK, November 25 (RIA Novosti, Lyudmila Zabortseva) - Russian aluminum giant Rusal will be investing heavily in projects in Russia's Far East and Siberia in the coming decade, the company's deputy CEO said Friday.

Speaking at a conference on the economic development of eastern Russia, Alexander Lipschitz said Rusal would channel $600 million annually into operating and projected facilities in that part of the country.

He said Rusal's investment this year in five Siberian plants, including the KrAz smelter in Krasnoyarsk, Russia's aluminum capital, and the Achinsk alumina plant, a major supplier of the raw ingredient for aluminum, were expected to come in at $300, a 70% increase year-on-year.