Bhubaneswar, Sep 21 (UNI) Public sector National Aluminium Company Ltd (NALCO) will set up an Aluminium Park at Angul in joint venture with the Orissa Industrial Infrastructure Development Corporation (IDCO).
An MoU, prepared by the NALCO, would be signed in next two to three weeks, company Chairman cum Managing Director CR Pradhan told reporters here yesterday.
He said the signing of the MoU with the IDCO has been delayed due to non-finalisation of land required for the project. Now that since all the problems relatiing to the acquisition of land had been sorted out, the project would be taken up soon.
Mr Pradhan said the project to be set up on a 50 basis on special purpose vehicle(SPV) mode. Once the MoU was signed the land acquisition would commence for the project which would have downstream industries like Caustic Soda, Alumnium Floride, CT Pitch and CP Coke, All the downstream industries, the CMD said, would explore the possibilities of casting, extrusions, aluminium conductors, aluminium plates and rounds besides other product.
On the projects abroad, Mr Pradhan said the identification of the land and the coal deposits had been finalised in Sumatra where the company would set up a Rs.14,000 crore green field project. As per the plan, the NALCO would establish a 5-lakh-tonne Smelter plant and a 1250 MW captive power plant.
In Iran also, a 3.3 lakh-tonne Smelter plant has been planned by the company as a joint venture project with ALPHA in which Kerman Development Organisation was a major partner. The project would cost nearly Rs.8000 crore.
Mr Pradhan said a dialogue with the Orissa government was on for acquring lime stone quarry to set up a Rs.300 crore cement plant based on fly ash at Angul.The company,he said had already invited the Expression of Interest from the competent parties to set up the plant. The CMD said offers of two bidders were found acceptable and soon it would be short listed for joint venture project.
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