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State-run Nalco has signed an agreement with Gujarat Alkalies and Chemicals Ltd (GACL) for setting up an integrated caustic soda plant and captive power plant at Dahej in Gujarat at a cost of Rs 1,789 crore.
Nalco will hold 40 per cent equity in the project, while the rest will be held by GACL, a Gujarat government owned company.
The agreement for the venture, being taken up as a backward integration initiative of the aluminium major, was signed here by Nalco CMD N R Mohanty and GACL MD A M Tiwari, the Navaratna PSU said in a statement.
The capacity of the caustic soda plant will be 2.7 lakh tonnes per annum and that of the captive power plant will be 100 MW, it added.
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