MOSCOW, Feb 14, 2012 (Dow Jones) -- Russia's aluminum giant United Co. Rusal PLC (0486.HK) Tuesday said it plans an increase of up to 70% of alloy production at its Siberian smelters by 2016.
"By 2016 we plan to produce 1,930,000 tons of high value-added products at our Siberian smelters, in order to satisfy consumer' demand. This modernization will result in Rusal developing further relationships with the world's largest companies," said Vladimir Polin, the company's director of Aluminum Division East, which covers the larger Siberian smelters.
The Hong-Kong, Paris and Moscow-listed company said it plans to invest $5 million in 2012 to raise alloy production to 1.26 million metric tons from the current 1.13 million tons.
Rusal said it will upgrade facilities at Krasnoyarsk, Bratsk, Sayanogorsk, Novokuznetsk and Irkutsk aluminum smelters.
The company said it will increase slab production at two of the world's largest smelters, Krasnoyarsk and Bratsk, and at Sayanogorsk, to meet the high demand from the packaging and automotive industries.