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NALCO deals with GACL for setting up of captive power plant

Updated: July 17, 2015 6:45 am

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.

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