RusAl officials said the company planned to double its cathode block capacity in China and predicted that the country would become a net importer of aluminum by 2009.

Russian pipeline-building company Stroytransgaz said Monday it had finished constructing a short natural gas pipe section in Greece, which extends an existing route from Alexandroupolis to Turkey.

A senior Central Bank official said Friday that some large Western and Asian banks would soon acquire large stakes in several Russian banks.

Volkswagen (VW) will assemble seven models at its Kaluga facilities in Russia. This move will enable the company to offer all product line here, starting from middle-size hatchbacks to off-highway vehicles.

In an effort to conquer retail markets of CIS, Gazprom Neft has incorporated subsidiaries in Kazakhstan and Tadjikistan. In the long term, the company intends to promote the chains of fuel stations there.

Metalloinvest sealed yesterday the longest contract in its history. Under it, the company undertook to supply iron-ore raw to Arcelor Mittal during five years.