PSU NEWS
NALCO MoU with Iranian firm for making aluminium
Bhubaneswar: The National Aluminium Company Limited (Nalco) on Monday signed a MoU with Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO) to explore the possibility of setting up a smelter as a joint venture in Iran. For the proposed smelter plant in Chabahar Free Trade Zone, Nalco would supply alumina from its refinery in India, an official release said.
The MoU was signed between chairman-cum-managing director of Nalco and vice-chairman of Iran`s planning board in the presence of Prime Minister Narendra Modi and President of Iran Hassan Rouhani in Tehran.
The agreement also envisages making arrangements with existing smelters in Iran for producing aluminium from alumina supplied by Nalco. Among other things the deal also proposed to look into other business collaborations as well. Times of India
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