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The Cabinet Committee on Economic Affairs today gave its approval for the revised cost estimate - II of Rs.398.36 crore at January 2004 level for the 50,000 tpy Rolled Product Unit of the aluminium major National Aluminium Company Limited (NALCO). The cold rolling mill of the unit has been completed in March 2002. Commissioning of the other segment of the project, particularly strip casters, will be completed within six months.
The company has taken over International Aluminium Products Limited (IAPL) with a capacity of 50,000 tpy of aluminium alloy coil sheets. IAPL has since been merged with NALCO after obtaining approvals from Government of India. The approved project cost Rs.331.81 crore was revised taking into account the interest on loan and expenditure on take over of leased assets.
DS/SCH
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