RUSAL denies deal with Indian company

Moscow -- United Company RUSAL considers India as a potential country for developing its business, Olga Sanarova, a spokesperson for the Russian-based aluminum giant, told RBC. RUSAL is interested in India from the point of view of developing its business there, Sanarova said, adding that it was premature to speak of any specific projects in the country at the present stage.

Indian media reported earlier today that United Company RUSAL and India's Essar Group intended to set up an alumina enterprise with a capacity of 1m tonnes in India, citing a proposal sent by the Russian-based group to the management of Essar. However, the Indian company has not made a final decision regarding this proposal yet. The project's cost is estimated at around $1bn. Other details of the prospective deal have not yet been revealed.