Russian aluminum-producer Rusal and India's Runaya Metsource have planned to set up a joint venture for producing aluminum paste and powder in India, Rusal said on Wednesday.
The companies will jointly set up a plant in India to produce 10,000 mt/year of aluminum paste and powders. The plant site will be finalized after registration of the proposed joint venture. Its commercial operation is planned to begin in 2018.
India, Southeast Asia and the Middle East are the target markets.
"Rusal's long-lasting experience in production of aluminum powders and pastes, as well as Runaya Metsource's strong position as a local player, create solid competitive advantages," commented Alexey Arnautov, Rusal's director for new projects.
The two companies will each hold 50% stake in the joint venture.
