Nalco, IMIDRO sign pact to set up aluminum smelter in Iran
Bhubaneswar: Aluminium firm Nalco and Iranian Mines & Mining Industries Development & Renovation Organisation (IMIDRO) today signed an MoU to jointly explore the possibility of setting up an aluminium smelter in Iran.
The Odisha-based Nalco will supply alumina from its refinery in India to the smelter in Iran.
The pact also envisages tolling arrangement with existing smelters in Iran for producing aluminium from alumina supplied by Nalco, inter alia.
“Nalco looks forward to using the low-cost gas-based energy available in Iran for conversion of its surplus alumina, presently exported to international markets, to bring in value-addition and scale up value chain,” Nalco CMD T K Chand said.
Under the provision of the pact, a joint taskforce comprising Nalco and IMIDRO experts, will be constituted to work out the details.
The pact was signed between CMD, Nalco and Vice Chairman, Planning Board, Iran, today in Tehran in presence of the Prime Minister of India and the President of Iran.