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India JV in Angul plan
September 02, 2010
State-owned Indian group Nalco has formed a JV to build an aluminium complex in Angul, India.
It will work with Industrial Infrastructure Development Corp-oration (Idco) to form a new company, Angul Aluminium Park, which will set up a downstream and ancillary complex on 200 acres of land.
The site will be located next to Nalco’s smelter. Idco will hold a 50.5% stake with Nalco holding the remainder. The INR750M ($16.2M) complex will house units for the manufacture of caustic soda, coal tar pitch, aluminium fluoride, aluminium conductors, aluminium casting, extrusion and disks.
Efforts are being made for the supply of hot metal directly from the Nalco smelter to the processing units in the park.