Nalco to form JVs with Almex and Rusal for special grade aluminium
Nalco is in talks with Almex and Rusal to form joint ventures at the upcoming Angul Aluminium Park in Odisha for the production of high-grade aluminium.
Nalco Chairman and Managing Director T K Chand told PTI that the aluminium will be used in in metro trains, e-vehicles, aerospace and automobile sector.
Angul Aluminium Park is a joint venture between Navratna firm National Aluminium Company (Nalco) and state-owned Odisha Industrial Infrastructure Development Corporation (IDCO).
US-based Almex is a leading supplier of commercial and aerospace aluminium billet and slab casting technology and equipment. Russia’s RUSAL's main products are primary aluminium, aluminium alloys, foil and alumina.
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.”
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