Nalco, Canada's Almex to forge JV for Rs 25 bn auto-grade aluminium unit

The project, spread across 50 acres, will come up at the downstream aluminium park at Angul (Odisha) close to Nalco's aluminium smelting unit

National Aluminium Company Ltd (Nalco) has firmed up plans to set up a joint venture with Ontario (Canada)-based Almex for the production of automotive-grade aluminium. The project, estimated to cost Rs 25 billion, will come up at the downstream aluminium park at Angul (Odisha) in the vicinity of Nalco’s aluminium smelting unit.

The Nalco-Almex JV unit would be spread across 50 acres at the park. The entire aluminium park, in which Nalco and state government-owned Odisha Industrial Infrastructure Development Corporation (Idco) are joint equity partners, has been developed on 240 acres of land.

“Almex has responded to our EoI (Expression