NALCO deals with GACL for setting up of captive power plant

NALCO has signed an agreement with Gujarat Alkalies and Chemicals Ltd (GACL) for setting up of an integrated caustic soda plant and captive power plant in Gujarat’s Dahej at a cost of Rs 1,789 crore. NALCO will hold 40 percent equity in the project while the rest will be held by GACL, a Gujarat government owned company. The agreement for the venture, being taken up as a backward integration initiative of the aluminium major was signed here by NALCO CMD N R Mohanty and GACL MD A M Tiwari, the Navaratna PSU said in a statement.