National Aluminium Company Limited (Nalco), a navratna PSU under the ministry of mines and Gujarat Alkalies and Chemicals Limited (GACL), a Gujarat government promoted company, have formed a joint venture to set up a Rs 1800-crore caustic soda plant.
Nalco holds 40% share capital in the new joint venture company, GACL-Nalco Alkalies & Chemicals Private Limited, while GACL holds the rest. The venture plans to produce 2.7 lakh tonnes of caustic soda per annum. The land transfer and ordering of plant equipment are in the final stages. The office of the new company was also inaugurated on Tuesday in Baroda.