Nalco to Invest Aluminum Project, Set Power Plant in Iran

India's National Aluminium Company Ltd. (Nalco) will invest 1 billion dollars in the aluminum industry together with a power plant in Iran. Source said the project will be executed by a joint venture with Kerman Development Organization, while Nalco holding a majority stake and the management in the project. Nalco has issued a bid to hire engineering consultants for the project due at May 20 for submitting application in the venture. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.