Business

NALCO Signs JV agreement with GACL

Bhubaneswar, 24.06.2015: National Aluminium Company Limited (NALCO), the Navratna PSU, under the Ministry of Mines, Govt. of India, has signed a Joint Venture-cum-Share Holders’ Agreement with Gujarat Alkalies and Chemicals Limited (GACL), a Govt. of Gujarat promoted company, for the establishment of an integrated Caustic Soda Plant and Captive Power Plant at Dahej, Gujarat, as a backward integration initiative of NALCO.

This Joint Venture-cum-Share Holders’ Agreement was signed on 23rd June 2015 at NALCO Corporate Office, by Shri N.R. Mohanty, Chairman-cum-Managing Director, NALCO and Shri A.M. Tiwari, IAS, MD, GACL. Shri P.K. Mohanty, IAS, CVO, Shri S.C. Padhy, Director (HR), Shri K.C. Samal, Director (Finance), Ms. Soma Mondal, Director (Commercial), Shri V. Balasubramanyam, Director (Production) and other senior officials of NALCO and GACL were present on this occasion.

It may be mentioned that the capacity of the Caustic Soda Plant will be 2.7 lakh tonnes per annum and that of the Captive Power Plant will be 100 MW. The estimated cost of the project is Rs.1789 crore. NALCO will hold 40% equity in the project and the balance equity will be held by GACL.

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