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India to build USD2.6b aluminum smelter in Iran
(MENAFN) Representatives of Iran and India are scheduled to meet next week to discuss plans to build an aluminum smelter and a captive power plant in Iran, a project worth USD2.6 billion.
Power shortages in India, given that electricity accounts for 40 percent of smelting costs, was the drive of the National Aluminum Co Ltd (NALCO)'s idea to install the 1-million-ton capacity plant.
NALCO's new chairman and managing director said he will be meeting Iran's Ambassador to India in New Delhi by next week to take things forward, the Economic Times reported.
Last month's conclusion of Iran's nuclear talks has encouraged the Indian government and companies to push for stepped-up trade with the Islamic Republic.
Power shortages in India, given that electricity accounts for 40 percent of smelting costs, was the drive of the National Aluminum Co Ltd (NALCO)'s idea to install the 1-million-ton capacity plant.
NALCO's new chairman and managing director said he will be meeting Iran's Ambassador to India in New Delhi by next week to take things forward, the Economic Times reported.
Last month's conclusion of Iran's nuclear talks has encouraged the Indian government and companies to push for stepped-up trade with the Islamic Republic.
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