OREANDA-NEWS. United Company RUSAL, the world's largest producer of aluminium and alumina, has signed an agreement with French energy giant AREVA, to form a 50-50 joint venture in Russia that will produce electrical equipment for aluminum smelters.

According to the press service of UC RUSAL, established in Russia’s Yekaterinburg on the base of the Russian Power Engineering Company, over the next 5 years the JV is expected to produce and deliver USD 500 million worth of equipment for the modernisation of existing operations and expansion programmes as well as for greenfield aluminium smelters.

The overall financial requirements of UC RUSAL’s electrical equipment until 2011, incorporating energy-related projects and aluminium smelters under construction, including assembly and servicing, are expected to reach just under USD1 billion.