InfoAnda - Russia, China revise aluminum projects in Guyana

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Read more with google mobile : Russia, China revise aluminum projects in Guyana - Yahoo! Singapore News

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Russia, China revise aluminum projects in Guyana AFP - 1 hour 54 minutes ago GEORGETOWN (AFP) - - Aluminum producers RUSAL of Russia and Bosai Minerals of China have delayed or changed their multi-million dollar investment plans in Guyana, Prime Minister Samuel Hinds said Friday. Among the world's top producers of aluminum and alumina, United Company RUSAL and China's state-run Bosai Minerals Group Co. have revised their plans in light of a global drop in prices and demand for metallurgical and non-metallurgical bauxite, Hinds told reporters. Aluminum prices are forecast to remain under "great pressure" in 2009, he added. The premier said RUSAL's year-old plan to revive a hydro-electric plant deep in Guyana's jungle and to build a smelter and an alumina plant "are clearly on hold." The three projects were to begin construction in 2011, he added. Formed 10 months ago by the merger of three companies making it the world's top aluminum producer, RUSAL last month laid off at least 200 workers at its bauxite concerns in Guyana and Jamaica as part of a cost-cutting measure. Hinds also announced that Bosai had amended its plans, announced two months ago, to build a one-billion-dollar alumina smelter in Guyana to produce one million tons annually. "They may construct it in two stages rather than one-off," Hinds said. "I am hoping that their studies will still prove attractive in the circumstance to proceed with that development." Guyana's bauxite industry, which is controlled by RUSAL and Bosai, employs 1,280 workers. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Russia, China revise aluminum projects in GuyanaAFP - 1 hour 54 minutes ago Treasurys fall as inflation expectations growAP - 2 hours 27 minutes ago China tells Obama's Treasury pick it is not manipulating currencyAFP - Saturday, January 24 Senate Finance chief unveils $275 billion tax packageReuters - Saturday, January 24 Related Articles: Business Apparel maker Hartmarx files for Chapter 11Reuters - 24 minutes ago Wall St Week Ahead: Stocks eye White House, Fed and earningsReuters - 29 minutes ago EPA objects to coal plant,Sierra Club claims new dayReuters - 41 minutes ago Venezuela shuts down biggest pharmacy chainAP - 49 minutes ago Guyana: Economic woes affect investment projectsAP - 51 minutes ago Enlarge Photo Russia, China revise aluminum projects in Guyana Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed World crisis deepens as downturn bites in Asia Obama retakes oath of office 'Dogs don't wear condoms,' says Baywatch star Anderson Obama steps up anti-recession offensive US unemployment spikes, housing crisis deepens View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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