Sept. 22 (Bloomberg) -- United Co. Rusal, the world’s biggest aluminum maker, isn’t holding talks on building a plant in Iran, while saying the Persian Gulf country is a possible opportunity as it expands in developing markets.
“Iran is one of numerous options for examination,” the aluminum producer’s Moscow-based press service said by e-mail. “There are no exact plans and the company does not hold any project discussions in this country.”
Rusal was responding to a report today in the Kommersant newspaper, citing a government document, that the alumimum producer is in talks about building a plant in the Persian Gulf country with output of as much as 375,000 tons a year, equal to 9 percent of its existing capacity.
Such an investment could violate U.S. sanctions against Iran, depriving Rusal of access to the U.S. market, Kommersant said. The U.S. accounts for almost 10 percent of Rusal’s sales, the newspaper said.