India's National Aluminium in nickel project
Date: 11-Apr-02
Country: INDIA
"We are preparing a detailed feasibility report on the project and hope to complete it in the next three to four months," S C Tripathi, NALCO chairman and managing director, told Reuters.
India imports all its nickel requirements of nearly 10,000 tonnes each year, traders said. The metal is mainly used for making stainless steel and coins, electroplating and providing a protective coating for other metals.
NALCO, India's second-biggest aluminium maker, was slated for privatisation this year.
It has tied up with the country's Council of Scientific and Industrial Research (CSIR) and the state-run National Mineral Development Corporation (NDMC) for the 105 million rupees ($2 million) pilot project in the eastern state of Orissa.
CSIR, a premier research body, has developed the technology to extract nickel from waste generated by chromite mining, while NDMC has been roped in for its expertise in extracting iron ore, a major part of chromite waste, Tripathi said.
NALCO, in which the government plans to reduce its holding to 26 percent from 87.15 percent, runs an aluminium smelter with an annual capacity of 230,000 tonnes in Orissa.