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. Last Updated: 07/27/2016

RusAl Wants Essar for Alumina Plant

MUMBAI, India -- Russian Aluminum has approached India's Essar Group to discuss building a 1 million-ton-per-year alumina refinery in the eastern Indian state of Orissa, Indian newspaper the Economic Times reported Monday.

The paper, which estimated the cost of such a project at $1 billion, quoted Essar sources as saying there were informal talks with RusAl, although "nothing has taken off."

"They had discussions in the past, but nothing is concluded," a spokesman for Essar Group said. He did not give further details.

RusAl said it was looking at possible projects in India but did not confirm the newspaper report.

"Any business implies continuous investigation of new opportunities. India is an interesting region for RusAl, but it's premature to talk about any specific projects at this stage," company spokeswoman Vera Kurochkina said.