ID :
36602
Fri, 12/19/2008 - 23:24
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Shortlink :
https://www.oananews.org//node/36602
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INDIAN FIRM TO BUILD ALUMINIUM MELTER IN S SUMATRA
Jakarta, Dec 19 (ANTARA) - An Indian company, National Aluminum Company Limited (Nalco), plans to build an aluminum smelter and a power plant with an initial investment of US$4 billion in Tanjung Api-Api, South Sumatra, a spokesman said.
Nelco Finance Director L Barga told a press conference here on Friday Nalco and Rak Mineral & Metal Investment (RMMI) had signed a MoU on the execution of the project.
"Nalco will manage the smelter and power plant, and to carry out the projects an initial investment of US$4 billion is needed," Barga said.
He said the smelter would have a capacity of 500,000 tons while the power plant would have a capacity of 1,250 MW.
Work to carry out the projects would begin in 2009 and the plants would become operational in 2013.
He said there was a small problem the project would face, namely low-rate coal while the ones needed were those of high rank.
In order to smooth high-rate coal supplies, Nalco plans to offer its shares to state-owned mining company PT Aneka Tambang (Antam). For the alumina supplies, Nalco will import it from India.
On the same occasion, Chief Executive Officer of RMMI, Naveen Chandralal said his company would assist Nalco with 24 percent of the funds it needed to build the smelter factory and the power plant.
"We will provide financial assistance amounting to 14 percent of the total funds it needs," Chandralal said.
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Nelco Finance Director L Barga told a press conference here on Friday Nalco and Rak Mineral & Metal Investment (RMMI) had signed a MoU on the execution of the project.
"Nalco will manage the smelter and power plant, and to carry out the projects an initial investment of US$4 billion is needed," Barga said.
He said the smelter would have a capacity of 500,000 tons while the power plant would have a capacity of 1,250 MW.
Work to carry out the projects would begin in 2009 and the plants would become operational in 2013.
He said there was a small problem the project would face, namely low-rate coal while the ones needed were those of high rank.
In order to smooth high-rate coal supplies, Nalco plans to offer its shares to state-owned mining company PT Aneka Tambang (Antam). For the alumina supplies, Nalco will import it from India.
On the same occasion, Chief Executive Officer of RMMI, Naveen Chandralal said his company would assist Nalco with 24 percent of the funds it needed to build the smelter factory and the power plant.
"We will provide financial assistance amounting to 14 percent of the total funds it needs," Chandralal said.
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