News On Projects
Products & Services
Projects Database
Tenders Database
E - Newsletter
EPXonline.com
Project Financing
Contracts & Awards
Energy
Electricity
Mining
Oil & Gas
Infrastructure
Airport
Port
Railway
Road
Freezone
Construction
Manufacturing
Cement
Engineering
Automobile
Plastic
Metal
Textile
Paper & Packaging
Leather
Sugar
Edible Oil
Electrical & Electro
Processing
Chemical
Drugs & Pharma
Fertiliser
I-C-T
Communication
IT
Telecom
Water
Pump Station
Water Treatment
Water Supply
Hospitality
Hotel
Restaurant
Resort
Entertainment
Sports
Multiplex
Theme Park
Food & Beverages
Hospital
Service
Social
Science
Irrigation
Government
Policy
Economic Indicators
Company News
Commerce
Miscellaneous
News Uploaded On : Wednesday, October 04, 2017 10:06:00 AM IND Back  |  Latest Projects  |  Latest Tenders
 
 E-mail this to a friend        Printable version       Story Viewed 5720 Times
GMDC, NALCO drop Rs. 5,400 cr alumina refinery project in Kutch
After years of negotiations and feasibility studies, state-owned Gujarat Mineral Development Corporation Ltd (GMDC) and central public sector undertaking (PSU) National Aluminium Company Limited (NALCO) have decided to drop the Rs. 5,400 crore alumina refinery.

In its 54th annual report for the year 2016-17, GMDC stated that citing nonviability of the project, NALCO has asked the state PSU to drop the project. A joint venture between GMDC and NALCO with the former having a 26 per cent stake, the alumina refinery was supposed to come up as part of the Rs 15,000 crore aluminium park in Kutch being set up by the state government.

According to GMDC, the detailed project report (DPR) prepared by NALCO found the 500,000 tonnes per annum (tpa) plant "unviable".

"Land required for the project has been allocated by Government and part possession has been taken. Process for obtaining possession of a remaining portion of land also is in progress. DPR for 500,000 tonnes per annum (tpa) plant got prepared by NALCO and is not viable. Hence they have requested GMDC to drop the project and the same is under the approval of Govt. of Gujarat," GMDC stated in its annual report.

"Based on the DPR, both the companies mutually decided not to proceed with the project," GMDC's annual report further read.

As a result, an "up front payment" of Rs 151 crore made by NALCO for setting up the refinery and smelter plant will be refunded by GMDC, the company stated in its annual report. "The company has initiated the process for repayment of the amount to NALCO without interest subject to the approval of Government of Gujarat," it stated.

With NALCO being mooted as a potential JV partner in 2011, GMDC's project had envisaged a 500,000 tonnes of smelter as well as one million tonnes of refined alumina per annum capacity. Around 100 hectares of land, of the total 300 hectares had been acquired for the project.

BS

Post your comments:

Your name: *
E-Mail Id:
E-mail ID will not be published
Comment: *
Maximum 500 Characters
    
Related Stories
LPG receiving jetty to be ready for use by March.
Uncertainty prevails over gasoline project.
Oil Ministry's ₹2.7-lakh-cr refinery remains on paper.
Uncertainty looms over petrochemical complex in Kakinada.
Kochi Refinery IREP project in final stage of completion.
Company being set up for Ratnagiri refinery.
Petronas scouts for LNG opportunities in India.
Bengaluru gas distribution project inaugurated.
IOC, BPCL, HPCL sign agreement to set up $30 bn refinery.
Pradhan lays foundation of IOC terminal in Una.
RELATED PROJECTS & TENDERS
ADVERTISEMENT
MOST POPULAR STORIES NOW
For all enquiries please contact
Tel: 022 - 25961254, 25960909
Mobile: 9821464666/09751178830
Mail: marketing@newsonprojects.com

OUR OTHER PRODUCTS & SERVICES:    Projects Database   |   Project e-Newsletter   |   Tenders Database   |   Commissioned Power Plants   |   Company Index
About Us   |   Contact Us   |   Terms of Use   |   Advertise with Us   |   Privacy Policy   |   Disclaimer   |   Feedback