The National Aluminium Company limited (Nalco) and the Neelachal Ispat Nigam limited (NINl) signed an MoU on Monday to set up a joint-venture (JV) company for producing coal tar pitch.
The agreement was inked by SK Satpathy, General Manager (Business Development and R&D) and SB Jagdale, Joint Managing Director on behalf of Nalco and NINl, respectively in the presence of Nalco CMD Dr Tapan Kumar Chand and other Directors and NINl Executive Director (CS) KN Ravindra at the Nalco Corporate Office here.
“The agreement is part of the Nalco's new business plan to ensure backward integration and sustain the plans for forward integration,” said Dr Chand.
A coal tar distillation plant is proposed to be set up under the JV based on the coal tar generated from the NINl's coke oven plant at its 1.1-million-tonne-per-annum integrated iron and steel plant at Kalinga Nagar in Duburi. The NINl would prepare a techno-economic feasibility report for the project.
