National Aluminium Company Limited (NALCO) has signed a MoU with Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO) to explore the possibility of setting up a smelter on joint venture in Iran. For the proposed smelter plant in Chabahar Free Trade Zone, Nalco would supply alumina from its refinery in India. The MoU was signed between chairman-cum-managing director of Nalco and vice chairman of Iran’s planning board in presence of Prime Minister Narendra Modi and President of Iran Hassan Rouhani in Tehran.

The agreement also envisages for arrangement 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. A joint taskforce comprising senior executives in projects, operations and marketing sectors of Nalco and IMIDRO experts would work out the details and submit its report in the next three months. Based on the report, ownership pattern, project financing, long-term supply of gas and other aspects would be decided.

Did You Know?

• National Aluminium Company Limited, abbreviated as NALCO, (incorporated 1981) has units in Odisha at places like Angul and Damanjodi. It was incorporated as a public sector enterprise of the Ministry of Mines, Government of India in 1981.
• Nalco received ISO 9001:2000 awards and OHSAS 140001 for its excellence in production technology & occupational health & safety systems respectively.