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Nalco on the lookout for overseas units
Madhumita Chakraborty
New Delhi, April 30: The National Aluminium Company Limited (Nalco) is on the prowl again, looking for a lucrative downstream unit. The largest producer of primary metal in the country (2.12 lakh tonne last year) bought up the entire stake in International Aluminium Products Limited (IAPL) in March.The public sector industry giant owned 26 per cent of IAPL, initially promoted by Mukand Limited. The Rs 292 crore IAPL project, in the vicinity of Nalco's smelter in Bhubaneswar, was at an ``advanced stage of completion,'' say company sources.The export-oriented unit (EOU) will produce aluminium fin stock, foil stock and can stock with technology from FATA Hunter Engineering of Italy and add to Nalco's product profile. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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