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. Last Updated: 07/27/2016

State and RusAl to Build Power Plant

The Federal Atomic Energy Agency and Russian Aluminum announced plans Monday to build a nuclear power plant and an aluminum smelter in the country's Far East.

The state agency and the aluminum giant will conduct a feasibility study by the end of the year and then set a timetable for construction of the plant and smelter, foreseen under a joint agreement on long-term investment projects, they said in a statement.

The project would help meet a target set by President Vladimir Putin of raising the proportion of nuclear generated power to at least 25 percent by 2030, as well as helping meet the enormous electricity needs of RusAl.

The statement said the project would be configured as a so-called public-private partnership, enabling RusAl and the state agency to seek government funds specially earmarked for infrastructure development.