Date of Post: 18 Oct, 2017
Odisha: Nalco, is planning to set up two joint ventures (JVs) at the upcoming Angul Aluminium Park in Odisha, a senior company official said.
The park is being jointly set up by Nalco and Odisha Industrial Infrastructure Development Corporation.
JVs With aluminium Majors :
The Aluminium major planning to set up joint ventures – one with US-based Almex & another with Russia’s Rusal.
Almex specialises in production of aerospace grade aluminium, while Rusal is a major player in primary aluminium, aluminium alloys, foil & alumina.
The Two JVs Will Manufacture Special-Grade Aluminium To Be Used In-
- Metro trains
- Automobile sector
- Currently, this high-grade aluminium is not manufactured in the country.
- Talks with Almex and Rusal are at advanced stage, said Nalco Chairman & Managing Director T K Chand.
- An announcement regarding the same would be made after a local partner is identified, he added.
- He said that the local partner will have a minority stake in the JVs, Nalco will keep 40 per cent and the remaining will be with the two foreign firms.
- Chand said,”We will form JVs with Almex and Rusal as technology partners and another Indian entity as minority shareholder. Nalco will set up, run and get the new entity listed and then exit the venture by selling its stake to the local partner under a new BoT (Build Operate Transfer) model for the sector.”