首页|Indal to acquire Norsk stake in Utkal Alumina for 6 m dollars
Indal to acquire Norsk stake in Utkal Alumina for 6 m dollars
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NSTL
Aditya Birla Group company Indal will pay 250 million rupees (6 million dollars) to Norwegian major Norsk Hydro for the additional 35 per cent stake in the 43 billion rupees Utkal Alumina. Hydro had last month announced its decision to exit the alumina project after expressing regret at lack of progress in Orissa. Hydro already has alumina production facilities in Jamaica and Brazil. Of Hydro's 45 per cent stake, 35 per cent will go to Indal and the remaining 10 per cent will go to the third partner Alcan. With this, Indal's stake will go up to a controlling 55 per cent, while Alcan's will go up to 45, after its accepts Hydro's remaining 10 per cent.
NSTL
