Article: VENEZUELA: Initial agreement regarding construction of $1,000,000,000 alumina plant has now been renegotiated and will also include the production of aluminum and aluminum alloys, RUSAL [Russia] - Order #: 078005.

PROJECT OVERVIEW:

In early 2005, the Venezuelan government created the BASIC INDUSTRY MINISTRY in view of avoiding the simple export of raw materials without any degree of on site transformation. As a result, existing foreign metals and mining investment projects were to be revised, and if necessary renegotiated, to incorporate more financial and technical benefits for the country. Russia's RUSAL alumina project is among those being revised.

Venezuela's government and the Russian aluminum producer had originally been negotiating a $1,000,000,000 investment regarding the construction of a bauxite processing plant to exclusively produce alumina at ...

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