Nalco signs pact with RMMI

Bhubaneswar: National Aluminium Company (Nalco), the public sector aluminium major, inked an agreement with Rak Minerals and Metals Investments (RMMI) for its Rs 14,000-crore Indonesian project.

The agreement is expected to synergise the schedules of construction of ports and rail corridor by RMMI and the construction of smelter and power plants by Nalco. RMMI will have 24 per cent stake in Nalco’s new aluminium project in Indonesia.

While operations of the proposed smelter would leverage RMMI’s transport infrastructure in South Sumatra, both the partners will actively scout for other viable locations in Indonesia.

The joint venture (JV) seeks to create synergic value for two companies and will enhance commitment to the people.