OREANDA-NEWS. September 27, 2010. UC RUSAL Plc (SEHK: 486, EuroNext: RUSAL/RUAL), the world’s largest aluminium producer, reports on the visit of Oleg Deripaska, CEO of UC RUSAL, to the People’s Republic of China taking part in the official state delegation of the President of the Russian Federation.

During the official visit of the President of the Russian Federation, Russia and China signed a joint statement on the overall expansion of Sino-Russian relations and strategic partnership as well as a number of memorandums on cooperation in oil and energy fields. In addition, agreements have been signed between business representatives of the two countries.

In particular, RUSAL has signed a Letter of Intent to acquire a stake in a sales and marketing subsidiary of China North Industries Corporation (NORINCO) which sells primary aluminium to the Chinese market. The document also provides for NORINCO’s investment in the development of capacities for high-tech production on RUSAL’s Siberian smelters. The expanding cooperation with NORINCO will help to bolster Russian production of high value added products, to substantially increase exports of Russian aluminium products to China and other Asian countries.