Adani and Ashapura form JV for aluminium project

It is reported that Ashapura Minechem has found a new partner in Gujarat based Adani Group for its mega aluminium project in Gujarat. The INR 10,000 crore project came to a standstill after the proposed partnership with China's Qingtongxia Aluminium Group failed to materialise. It is learnt that Adani and Ashapura will equally own the JV. Adani Group will supply power to the energy intensive aluminium project through its 1,000 MW Mundra power project. The project aims to set up facilities of producing 1 million tonnes of alumina in phase-I followed by a 0.5 million tonnes per annum aluminium smelter in the next. Ashapura has bauxite mines in Gujarat and has already applied to state mining company Gujarat Mineral Development Corporation for additional 2.5 million tonnes per annum of bauxite. Bauxite is the raw material for the production of aluminium with alumina being the intermediate product. 3 tonnes of bauxite are refined into 1 tonne of alumina which in turn is smelted to produce half a tonne of aluminium metal. Source: steelguru