Russian Financial Control Monitor

MOSCOW. Rusal cut production to 1.999mn metric tons during the first half of 2013, down 4.5% from 2.093mn tons in the same period last year, the world's largest aluminum producer said in a statement. The output was the lowest level seen since the first half of 2010. Alumina output over January-June was 3.638mn tons, down 7.5%, and bauxite output was 5.75mn, down 14.3% year on year. The board has approved additional production reductionsб by 9% in 2013 from 2012, Rusal said. The share of high value-added products in the company’s overall output continued to grow steadily, reaching a record level of 42.8% in the second quarter of this year.

MOSCOW. State-run China Development Bank (CDB) will channel up to $5bn into development projects in Russia’s Far East. Far East Development Minister Viktor Ishayev and the CDB President Zheng Zhijie signed the relevant agreement On August 16, the ministry’s press service said in a statement. The document provides for financial support of priority projects under the state programme to boost development of the country’s Far Eastern and Baikal regions until 2025 and the cooperation programme between Russia’s Far East and West Siberia and the provinces in Northeast China until 2018.

2023-10-08 11:42:18