Bhubaneswar: National Aluminium Company Limited (Nalco) and Neelachal Ispat Nigam Limited (NINL) have signed a memorandum of understanding (MoU) to set up a Joint-Venture company for producing Coal Tar Pitch.
The MoU was signed by S.K.Satpathy, General Manager (Business Development and R&D) and S.B.Jagdale, Joint Managing Director on behalf of Nalco and NINL, respectively on Monday.
The MoU was signed in the presence of Nalco CMD Dr. Tapan Kumar Chand, N.R. Mohanty, Director (P&T), K.C.Samal, Director (Finance), V. Balasubramaniam, Director (Production), B.K. Thakur, Director (HR), 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 sustains 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 NINL’s Coke Oven plant at its 1.1 million ton per annum integrated Iron and Steel plant at Kalinganagar in Duburi.
NINL will be preparing a Techno-Economic feasibility report for the JV project.