The world's biggest aluminium and alumina producer, RUSAL has partnered with Indian company Gujarat Foils Ltd. to set up an alumina refinery and aluminium smelter in the Kutch district of Gujarat state, India. The total investment in this endeavour will add up to 140 billion rupees.
Gujarat Mineral Development Corporation Ltd (GMDC) has issued an expression of interest (EoI) to Gujarat Foils for setting up a 1 million tonne per annum alumina refinery and a 5,00,000 tonne aluminium smelter in Kutch district of the state.
The CEO and managing director of Gujarat Foils Vimal Kumar Somani, said that they were a knowledge driven company and did not have the wherewithal especially in terms of cash, to set up a huge plant and manufacture aluminium on their own.
Thus the company had tied up with the Moscow based RUSAL to submit an expression of interest to the Gujarat government to set up this aluminium plant. Vimal Kumar Somani also said that the finer details of the joint venture were still being worked out with the Russian company.