Nalco inks JV pact with GACL for caustic soda plant.

National Aluminium Company Ltd. (Nalco), a navratna PSU under the Union mines ministry, has signed a joint venture (JV) cum shareholders' agreement with Gujarat Alkalies and Chemicals Ltd. (GACL) for setting up a caustic soda plant and captive power plant (CPP) at Dahej (Gujarat).

The project is being taken up as a backward integration initiative of Nalco.

The caustic soda plant would have a capacity of 270,000 tonne per annum whereas the CPP's generation capacity is pegged at 100 MW. The project is estimated to cost Rs. 1,789 crore. Nalco would have 40 per cent stake in the project with the balance equity held by GACL.

The JV agreement was signed last Tuesday by N R Mohanty, chairman cum managing director, Nalco and A M Tiwari, managing director, GACL. Senior officials of Nalco and GACL were present on the occasion.

Nalco achieved its highest ever gross turnover of Rs. 7,771 crore in last fiscal, 10.63 per cent higher than Rs. 7,024 crore recorded in 2013-14. Nalco’s previous best turnover was Rs. 7,247 crore which it achieved in 2012-13. It also logged an export turnover of Rs. 3,307 crore in 2014-15.

BS