Mr. Oleg Deripaska, the CEO of United Company RUSAL (UC RUSAL), the largest aluminum producer in Russia said that the company has signed an agreement with the China North Industries Corporation (Norinco) to jointly invest US$480 million to start modernization transformation at Krasnoyarskiy Allumunium Plant.

He added that some other cooperation projects were also listed in the agreement. The agreement term is 10 years.