The Orissa government will sign a memorandum of understanding with Sterlite Industries tomorrow for setting up of a Rs 4,000 crore alumina refinery project at Lanjigarh in Orissa.
The foundation stone of the project is scheduled to be laid by the chief minister Naveen Patnaik on Sunday. The proposed venture, having refining capacity of one million tonne of alumina per annum, is expected to be completed in 36 months.
Sterlite is also front runner in the bid to take over public sector Nalco, which has been put on the block for privatisation by the government. The proposal to set up an alumina refinery and a smelter in Orissa by the Sterlite group was originally mooted in 1996. However, the project was since hanging fire.
Now, work on the project has gained momentum following the company