|India’s NALCO seeks to build aluminum smelter in Iran||
TEHRAN - India’s National Aluminum Company (NALCO) is in talks with six countries, including Iran, for setting up smelter units through joint ventures, the Tasnim News Agency reported on Wednesday.
NALCO has approached the ambassadors of Iran, Indonesia, Vietnam, Malaysia, Qatar, and Oman for setting up smelters overseas in joint ventures.
“We are running profitably, while smelters worldwide are being shut down,” Ansuman Das, the chairman of NALCO stated, Business Standard reported.
NALCO is the largest integrated aluminum unit in Asia and is also one of the largest aluminum complexes of the world. It is one of the companies that produce aluminum oxide at the lowest cost.
In May 2012, the Iranian Ministry of Industry, Mines, and Trade announced that Iran’s aluminum output would hit 1.5 million tons by the end of the country’s 20-Year Vision Plan, which runs until March 2025.
Iran plans to become the world’s 14th leading aluminum producer by the end of the country’s 5th Five-Year Economic Development Plan, which began in 2010 and ends in 2015.
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