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India's Nalco to invest $1 billion in Iran

TEHRAN, Apr. 26 (Mehr News Agency) -India's National Aluminium Company Ltd. (Nalco) has lined up a $1 billion investment for the Aluminium industry as well as building a power plant in Iran.

Fars quoted Indian daily Sify as saying that the project will be implemented in a joint venture with Kerman Development Organization.

"The Indian National Aluminium Company would have majority stake in the project along with management control," one of Nalco's officials explained.

Nalco has issued a bid to hire engineering consultants for the project. Companies have until May 20 to submit their participation documents in the venture.

... Payvand News - 04/26/08 ... --

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