Russia Will Buy India's Largest Aluminium Producer

Russia's RusAl the world's second biggest aluminium producer had submitted its expression of interest in buying National Aluminium Co Ltd India's second largest aluminium producer.

Yesterday was the last day to submit expresssions of interest.

The terms of partial privatisation of NALCO did not involve bids for specific stakes or investment at this initial stage.

The Indian government plans to sell 10 percent to domestic investors, 20 percent through American Depositary Receipts to foriegn investors and two percent to management.

They are interested in any project, including an international one, which involves alumina surplus. RusAl had to import 50 percent of alumina, a primary material for making aluminium. ©

&to=http://www.rual.ru/rual/index.jsp#' target=_blank>RusAl

&to=http://www.nalcoindia.com/' target=_blank>NALCO