Alcan sells interest in Indian alumina project

Canadian producer Alcan said it has reached an agreement with Hindalco Industries Limited for the sale of its 45% interest in Utkal Alumina International Limited. Hindalco is the other shareholder in the project. The Utkal joint venture was established in 1992 and involves the development of a new bauxite mine and alumina refinery in the Indian state of Orissa. Alcan expects completion during the third quarter of 2007. It will remain technology supplier to Uktal.