RUSAL plans downstream JV projects with Chinese partners

United Co RUSAL Plc, the world's biggest aluminum producer, is planning to sign cooperation deals with Chinese companies to launch joint ventures in markets outside of Russia as the country heads for a recession caused by sharply lower oil prices.

Oleg Mukhamedshin, the company's deputy chief executive officer, said it plans to create JVs with Chinese partners within two to three years, focusing on producing value-added products in the aluminum downstream sector.

The Moscow-headquartered, but Hong Kong-listed industrial giant also plans to develop a bauxite plant with Chinese partners in a market such as Indonesia to ensure upstream supplies of raw material, said Mukhamedshin.