MOSCOW, Jul 5 (PRIME) -- Russian aluminum giant UC RUSAL has signed an agreement to establish a joint venture which will produce cables with China’s HJSC, RUSAL said in a statement on Tuesday.
The companies will own the joint venture called RUSAL- HEBEI JOY SENSE CABLE Special Aluminium Products Co. Ltd on a parity basis.
“At this stage, the partners will invest U.S. $1 million and will make further investment decisions on completion of the feasibility study,” RUSAL said.
The main facility of the cable maker will be located in Shijiazhuang, Hebei Province, 300km from Beijing.
The target capacity of aluminum rods processing is planned at 72,000 tonnes a year.
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