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Nalco exits SA project, puts Iran project on hold

Projects

State-owned aluminium major Nalco has shelved its proposed project in South Africa, while putting another project in Iran on the backburner. The company had planned a Rs17,000-crore project in South Africa to set up a 5-lakh tonne aluminium smelter plant and a 1,250-MW power plant. According to a top company official, both projects have now been withdrawn given the unavailability of sufficient coal to feed the projects. The official also informed that Nalco has put on hold its Rs10,000 crore Iran project which included the setting up of a 3.3 lakh tonne aluminium smelter plant and an 800-MW power station, as the company has so far been unable to tie up funds for the project.

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June 2020
10 Jun 2020