NALCO and NINL to set-up JV for Coal Tar Pitch plant in Odisha
Bhubaneswar, 30/01/2017 : National Aluminium Company Limited (NALCO) & Neelachal Ispat Nigam Limited (NINL) signed an MoU on 30 th January to set up a Joint-Venture company for producing Coal Tar Pitch. The MoU was signed by Shri S.K.Satpathy, General Manager (Business Development and R&D) and Shri S.B.Jagdale, Jt. Managing Director on behalf of NALCO and NINL, respectively in the presence of Dr. Tapan Kumar Chand, CMD,NALCO, Shri N.R. Mohanty, Director (P&T), NALCO, Shri K.C.Samal, Director (Finance),NALCO, Shri V. Balasubramaniam, Director (Production), NALCO, Shri B.K. Thakur,Director (HR), NALCO, Shri K.N. Ravindra, Executive Director (CS) and other senior officials of NALCO and NINL at the Corporate Office of NALCO in Bhubaneswar.
“The agreement is part of the new business plan of NALCO to ensure backward integration and sustain the plans for forward integration,” said Dr Tapan Kumar Chand. A Coal Tar Distillation plant is proposed to be set-up, under the JV, based on the Coal Tar generated from NINL’s Coke Oven plant at its 1.1 million tonne per annum integrated Iron &Steel plant at Kalinga Nagar in Duburi. NINL will be preparing a Techno-Economic feasibility report for the JV project