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          Business / Companies

          Rusal plans more JVs with Chinese companies

          By He Yini (China Daily) Updated: 2015-09-10 09:35

          The automobile industry, among others, is a key driver of aluminum demand by sector. According to a Rusal report, global aluminum consumption in transport will be growing at an annual rate of 5 percent to 7 percent till 2020.

          That is sweet music for Rusal, which produces 7 percent of global aluminum.

          The company's 2015 first-half financial reports show revenue grew 8.3 percent year-on-year to $4.75 billion. Net profit during the period surged to $830 million, compared with $40 million recurring net loss in the same period of 2014.

          "We have taken adequate steps to reduce production costs, generate sufficient profits and boost performance. All of these should allow Rusal to make dividend payouts. It's very important for the company and for the market."

          "With opportunities ahead from infrastructure and transport projects such as high-speed trains under the Belt and Road Initiative, we are quite optimistic on long-term prospects," he said.

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