State-owned Nalco today said it was considering selling stake in its $3.9-billion (over Rs 18,000 crore) aluminium project in Indonesia in lieu of acquiring equity in coal mines in the island country.
“We are open to selling stake in the aluminium project to the firm, which offers us its coal mines. In return, we will acquire stake in the coal mine offered to us,” Nalco Director (Finance) B L Bagra said.
Nalco holds 76 per cent stake in the Indonesian project, while RAK Minerals & Metals Investments, a unit of RAK Investment Authority, holds 24 per cent.