KOLKATA | April 11, 2016: National Aluminium Company (Nalco) and Iranian Mines & Mining Industries Development & Renovation Organization will form a joint task force, comprising senior projects, operations and marketing executives of Nalco, directors of ministry of industries, government of Iran and senior executives of Iranian Aluminium Company (IRALCO) to finalise plans for a proposed smelter and gas-based power plant in Chabahar Free Trade Zone, Iran. This is part of a joint venture aluminium company to be set up in Iran. The Joint Task Force has been given three months to submit its report.
Based on the report, ownership pattern, project financing, long-term supply of gas and other aspects shall be decided, a statement issued by Nalco on Monday said. Incidentally, T K Chand, CMD Nalco is in Iran as part of Indian business delegation, led by Dharmendra Pradhan, union minister for petroleum and natural gas. During the visit, Chand held discussions with deputy minister of industry, mines & trade, government of Iran, chairman of IMIDRO and top officials of Iran government and other aluminium companies.
"The project would help Nalco to use low cost energy available in Iran for conversion of its alumina, presently exported to international markets, into aluminium. The aluminium products from the Joint Venture Company are expected to be highly cost competitive combining the advantages of low cost Nalco alumina and low cost Iranian energy," Chand said. A team from IMIDRO is likely to visit Nalco shortly.
(Source: http://economictimes.indiatimes.com/)