Madras Aluminium signed restore agreement with ESS DEE Aluminum

Bombay, Feb. 18—India Malco(Madras Aluminum Co Ltd) said recently, it has signed agreements with ESS DEE Aluminum to restore its India Foil Ltd. Malco is a filiale of Vedanta Resource. This agreement plans to tackle with the 3b rupees debt and large scale mending work of this Foil Company. According to a statement of this company, they all doing mending work currently, this case should be pass by India Industrial & Financial Reconstruction. A financial paper said before Malco transfer India Foil Ltd to ESS DEE, they will clear their financial problems. Malco probably will receive about 1.4b rupee.