UES and RUSAL have signed an agreement on the conditions of their partnership on the Boguchanskaya energy and metals complex project.
The project is estimated to cost around US$4bn and will involve a 3,000MW hydro-power plant, aluminium smelter producing 600,000 tonnes of aluminium per year and associated infrastructure. The project should take about seven years to complete.
A final partnership agreement is expected to be signed in the first quarter of 2006.
