Business Daily from THE HINDU group of publications Friday, Oct 19, 2007 ePaper | Mobile/PDA Version |
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Corporate
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Overseas Investments
Mr T. Subbarami Reddy, Union Minister of State for Mines, and Mr Sandile Nogxina, Head of Mining and Steel Ministry, South Africa, during Mr Reddy’s visit to South Africa. Our Bureau Chennai, Oct 18 Public-sector National Aluminium Company Ltd (Nalco) may put up a 0.5-million tonne plant in South Africa (SA) that would use local mineral resources as its raw material. Preliminary discussion for setting up the plant has been held earlier this week between the Minister of State for Mines, Mr Subbarami Reddy and the Head of Mining and Steel Ministry of South Africa, Mr Sandile Nogxina, during Mr Reddy’s visit to the country. Mr Reddy, who accompanied the Prime Minister, Dr Manmohan Singh, during his visit to Nigeria and SA, told Mr Nogxina that Nalco is interested in establishing a plant with an annual capacity of 0.5 million tonnes. In response Mr Nogxina assured the Minister that his country would extend all possible support along with access to local mineral resources for Nalco to do the value addition, an official release issued by the Minister’s office said. During the discussions Mr Reddy also expressed India’s willingness to avail the services of Mine Qualification Authority of South Africa for Indian companies go get access to latest mining technologies. It was also mutually agreed to make use of South African training facilities in mining for Indian technicians in India as well as by sending Indian technicians, engineers and geo-scientists there. The discussions also focussed on mining in forest areas with out effecting ecological balance and also rehabilitation procedures. Mr Reddy and his counterpart also agreed to establish Joint Technical Working Group consisting of experts from both the countries to develop a plan of action and identify projects and report to both the Governments, once or twice a year, so that the progress can be monitored, the release added. More Stories on : Overseas Investments | Aluminium | National Aluminium Co. Ltd
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