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Nalco wants to foray into steel and ferroalloys
Edited by : AL CIRCLE
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The National Aluminum Company, in its bid to foray into steel and ferro alloys making will soon submit detailed project reports for acquisition of stakes in Idcol Kalinga Iron Works and Idcol Ferro chrome Alloys the two Orissa based units owned by state owned IDCOL.
Nalco has evinced interest to be a strategic partner in the modernization and expansion of IKIWL and IFCAL following a proposal from IDCOL for disinvestment of 51% of its stake.
The state government in September 2010 had asked IDCOL to negotiate with Central PSUs like Steel Authority of India, Rashtria Ispat Nigam and Nalco for disinvestment of stakes in the two units. The mandate was to scout for a partner for the revival of the two units.
Nalco has evinced interest to be a strategic partner in the modernization and expansion of IKIWL and IFCAL following a proposal from IDCOL for disinvestment of 51% of its stake.
The state government in September 2010 had asked IDCOL to negotiate with Central PSUs like Steel Authority of India, Rashtria Ispat Nigam and Nalco for disinvestment of stakes in the two units. The mandate was to scout for a partner for the revival of the two units.
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