UC Rusal, headquartered in Moscow, Russia, has entered into a partnership with Runaya Metsource, Mumbai, India, to create a joint venture on an equal basis in India. The joint venture will involve the building of a facility specialising in the production of high-technology aluminium powders and pastes with a wide range of applications, including in key innovation areas such as Additive Manufacturing and solar energy.
Following commencement of production at the facility, products produced by the joint venture will be sold primarily in the Indian, South-East Asian and Middle Eastern markets, where metal powder demand is growing rapidly.
Alexey Arnautov, Rusal’s Director for New Projects, stated, “Rusal’s strategic priority includes the increase in production and sales of high value added products, including the creation of joint ventures. A combination of Rusal’s long-lasting experience in production of aluminium powders and pastes as well as Runaya Metsource’s strong position as a local player create solid competitive advantages for the JV and is an excellent foundation to penetrate the market.”
“Runaya’s strategy is to enter businesses focusing broadly on material sciences and manufacture products with high technology applications through alliances and partnerships with global leaders,” added Naivedya Agarwal, CEO Runaya Metsource and designate Managing Director of the Joint Venture. “I’m delighted with this joint venture with Rusal, which will innovate and produce high-end aluminium-based products for fast growing global and regional markets.”
The project is expected to begin this year and commence commercial production in 2018.