Rusal, Russia's top aluminum producer, may invest US$1 billion in a bauxite ore mining project in central Vietnam, the Vietnam News Agency reported Wednesday.
The report quoted Igor Khovaev, minister counselor of the Russian Embassy in Vietnam, as saying that the project was being negotiated.
Rusal, which holds a 75 percent stake in Russia's aluminum market, posted $6.65 billion in revenue last year.
Phan Huu Thang, head of the Ministry of Planning and Investment's Foreign Investment Agency, said Vietnam planned to draw up potential projects for Russian investors and organize trade promotion seminars to attract more capital.
Russia ranks 22th among the 76 countries and territories investing in Vietnam, with 47 projects valued at more than $278 million, according to the ministry.
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