31 January, Bhubaneswar
National Aluminium Company Limited (NALCO) and Neelachal Ispat Nigam Limited (NINL) have signed an MoU to set up a joint-venture company for producing coal tar pitch.
The MoU was signed by NALCO general manager (business development and R&D) S K Satpathy and NINL jt. managing director S B Jagdale, in presence of NALCO CMD Dr Tapan Kumar Chand here Monday.
NALCO sources here said “The agreement is part of the new business plan of the company to ensure backward integration and sustain the plans for forward integration,”
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 tonne per annum integrated iron & steel plant at Kalinga Nagar in Duburi.
NINL will be preparing a techno-economic feasibility report for the jv project.