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. Last Updated: 07/27/2016

Sibirsky Eyes Ukraine

MOSCOW -- Sibirsky Aluminum Group, owner of the country's third largest aluminum plant, Sayansk, plans to expand its operations in neighboring Ukraine, Oleg Deripaska, Sibirsky president, was quoted assaying Tuesday.

"We want to set up a vertically integrated company in Ukraine and we have taken a strategic decision to build an aluminum plant there," he said in an interview with business daily Kommersant.

He added that the plant would have a Ukrainian partner with a "substantial stake."

Deripaska gave no further details of the project, but he said Sibirsky Aluminum already owned 36 percent of Ukraine's huge Nikolayev alumina plant, which produces the main raw material for aluminum production.