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India's NALCO puts Iran project on hold - chairman
June 5, 2017 / 6:36 AM / 6 months ago

India's NALCO puts Iran project on hold - chairman

NEW DELHI, June 5 (Reuters) - India’s National Aluminium Company Ltd has put all its overseas projects, including the one in Iran on hold, to focus on expanding domestic capacity, its chairman said on Monday.

“Iran’s proposal is attractive as long as gas prices are attractive, but not much of an indication in that area has come,” Chairman Tapan Kumar Chand told Reuters.

India’s third-largest producer of aluminium plans to increase its production by 14 percent to 440,000 tonnes in 2017/18, Chand said. (Reporting by Jatindra Dash; Editing by Sherry Jacob-Phillips)

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