Deripaska Plans China Projects

Sep. 11 2012 — 00:00

Oleg Deripaska, co-owner of aluminum giant RusAl, said he is in discussions on several projects in China as he aims to benefit from Chinese plans to pump $158 billion into infrastructure projects.

"We have a discussion on many different projects with Chinese companies on developing ports, developing new mines, increasing production at existing facilities," he said on the sidelines of an Asia-Pacific summit in Vladivostok.

Prices of shares and metals jumped last week on news of the 60 projects — to build highways, railways, ports and airports.

Deripaska said he was not concerned about a possible slowdown in China, which is targeting 2012 economic growth of 7.5 percent — one of the world's highest but still the country's weakest in at least 13 years. "There is no doubt they will keep growing," he said.

(Reuters)

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