Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

RusAl to Spend $3M on China Plant

BEIJING — Russian Aluminum will invest $3 million to expand the capacity of a factory in northern China to produce 67 percent more metal, deputy general manager Alexander Livshits said Thursday.

RusAl said it would be able to produce 25,000 blocks of aluminum cathode, or refined aluminum, at its factory in Shanxi province, from the current annual output of 15,000 blocks.

The company is also considering plans to invest in two additional projects, including the construction of a factory that has the capacity to process as much as 1 million tons of alumina per year, Livshits said at a news conference.

RusAl plans to spend $16 billion by 2013 as it expands production and makes acquisitions from Iceland to Venezuela, the company said Sept 21. It plans to increase output capacity by more than 60 percent in the next eight years to achieve annual production of 5 million tons.