Russian firm taps Ruias for Orissa alumina plant.
Economic Times (New Delhi, India), April, 2007
Apr. 9--MUMBAI, India -- It was in 2002 when the world's second largest aluminium company, Rusal, expressed an interest in the bidding for state-owned Nalco, Asia's largest alumina company. Although that didn't progress further as the government stopped the privatisation process for Nalco, the Russian company hasn't given up hope.
It has now been reliably learnt that Rusal has approached the Ruias of Essar to jointly build a 1 million-tonne alumina refinery plant in Orissa as part of its larger strategy to own alumina capacities across the world. The cost of building such a project is about $1 billion.
The steel-to-telecom Essar group had earlier announced a steel project in Orissa. Sources in the group said though there were informal talks with Rusal...
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