Russian company Rusal has acquired a 26% stake in India’s Pioneer Aluminium Industries Limited for $243.75 million, with an option to increase its share to 50%. The deal aims to strengthen industrial cooperation and secure a stable supply of alumina, a key raw material for aluminum production. As one of the world’s largest aluminum producers, India gains a reliable partner, while Russia expands its footprint in the Global South.
Analysts highlight that the agreement creates alternative supply chains and reduces reliance on traditional markets. It reinforces India’s strategic push to diversify economic partnerships and showcases the Global South’s growing capability to build independent industrial alliances.
Analysts highlight that the agreement creates alternative supply chains and reduces reliance on traditional markets. It reinforces India’s strategic push to diversify economic partnerships and showcases the Global South’s growing capability to build independent industrial alliances.