Indian Aluminum Company Puts Iran Project on Hold
Indian Aluminum Company Puts Iran Project on Hold

Indian Aluminum Company Puts Iran Project on Hold

Indian Aluminum Company Puts Iran Project on Hold

India’s National Aluminium Company Ltd., otherwise known as NALCO has put all its overseas projects on hold, including one in Iran, to focus on expanding domestic capacity, its chairman has said.
NALCO last year signed an agreement with Iran’s mining development body to explore the possibility of building an aluminum smelter.
“Iran’s proposal is attractive as long as gas prices are attractive, but not much of an indication in that area has come,” Chairman Tapan Kumar Chand told Reuters.
Late last year, the Indian government asked NALCO to rethink its global expansion plans, including Iran, citing the need to be self-sufficient in aluminum production.
NALCO had also looked at setting up a 500,000-ton-per-year smelter and an associated power plant in the Middle East.
India’s third-largest aluminum producer plans to increase its output by 14% to 440,000 tons in 2017/18 and expects a 20% jump in exports to 120,000 tons.
Chand said the company’s $849 million refinery in Damanjodi in the eastern state of Odisha is likely to be commissioned by 2021, which will help increase its alumina output by as much as 48% to 3.1 million tons.
“NALCO is now strengthening its alumina arm by putting up a 1-million-ton refinery. We have got environment clearances and technology selection is over,” he said.
“The company has also formed a panel to explore the domestic sale of alumina.”
Alumina, produced from bauxite ore, is the primary input for making aluminum.

Short URL : https://goo.gl/4zAmfC
  1. https://goo.gl/I61Fok
  • https://goo.gl/t3v1i4
  • https://goo.gl/DIUoLB
  • https://goo.gl/d94vgZ
  • https://goo.gl/XJCLIf

You can also read ...

 TCCIMA Secretary-General Bahman Eshqi speaking in Vienna on Nov.16
Iranian banks are expected to open their first branches in...
Iran has 9,000 online retail stores.
With the ever-growing developments in the World Wide Web,...
Tehran-Accra Expand Agro Coop.
Three memoranda of understanding were signed between Iran’s...
Helping the Quake-Stricken?  Not If They Are Iranians!
Iran is a hotspot of earthquakes and several of them have...
USD at  41,000 Rials
After the US dollar’s recent bull run that pushed the value of...
The first Iran-Luxembourg Forum opened on Wednesday and hosted...
Tesla Roadster Speeds in Front of Electric Truck
Tesla Inc upstaged its own debut of an electric heavy duty...
Imported Flat Steel Buying Thin Over Lower Local Prices
Buying activity in the Iranian flat steel import market was...

Add new comment

Read our comment policy before posting your viewpoints

Enter the characters shown in the image.