MOSCOW, September 6 (RIA Novosti) - Russian aluminum giant United Company RusAl and Indonesian mining company Antam are expected to establish a bauxite and alumina processing complex in Indonesia by 2011, a RusAl spokesman said Thursday.
The parties signed Thursday a memorandum to set up a joint venture to build a plant on West Kalimantan, on the Indonesian side of West Borneo, with an annual production capacity of 3.6 million tons of bauxite and 1.2 million tons of alumina.
RusAl will hold a 51% and Antam a 49% stake in the project.
"Construction on the project is due to begin in 2009, with aluminum production scheduled for 2011," the spokesman said.
United Company RusAl, established in March 2007 through a merger of Russian aluminum giants RusAl and SUAL and Swiss Glencore's alumina assets, accounts for 12.5% and 16% of the global aluminum and alumina markets, respectively.