 "Nalco, Iranian co to form task force for smelter plant")
The task force to consist of senior project executives of Nalco, Iranian Aluminium Company (IRALCO) and officials from Iran's industries ministry, is expected to submit its report in three months.
"The project would help Nalco to use low cost energy available in Iran for conversion of its alumina, presently exported to international markets, to 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", said TK Chand, chairman cum managing director, Nalco.
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Chand is in Iran as part of the Indian business delegation, led by Dharmendra Pradhan, Union minister for petroleum and natural gas. During this visit, Chand held discussions with deputy minister of industry, Iran government, chairman of IMIDRO and top officials of the Iran government and other aluminium companies.
Based on the report submitted by the task force, the ownership pattern, project financing, long-term supply of gas and other aspects of the proposed smelter project would be decided. A team from IMIDRO is likely to visit Nalco shortly.
Nalco is exploring possibilities to set up a greenfield smelter at a location where energy is available at competitive price. Nalco has shortlisted Iran, Indonesia and Oman as possible locations for the overseas smelter.