Comalco in Russia
NZPA-AAP Moscow Comalco is close to signing a multi-million dollar agreement to set up a joint venture in the Soviet Union. Although Comalco executives in Moscow, to negotiate the deal, were reluctant to discuss progress, Australian officials confirmed agreement was likely on an aluminium plant near Vladivostok in the Soviet Far East. They said Comalco was delighted the Australian Prime Minister, Mr Hawke, pressed the deal on Soviet leader, Mikhail Gorbachev,
during their discussions. The proposed agreement would be worth "tens of millions of dollars a year over the long term,” the officials said. It involves Comalco setting up a bauxite refining plant in the Soviet Union, in which it would have a 49 per cent interest. For Comalco, the main advantage would be to secure a steady, long-term Soviet market for its bauxite.
The agreement is likely to be the first of a series of joint ventures between Australia and the Soviet Union.
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Press, 3 December 1987, Page 33
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157Comalco in Russia Press, 3 December 1987, Page 33
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