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NALCO may revisit Iran smelter plan

NALCO may revisit Iran smelter plan

India has asked state-controlled National Aluminium Co Ltd (Nalco) to re-think its overseas expansion plans including a proposal to set up a $2 billion smelter unit in Iran, a top official has said.

¨Value addition should happen in India and we should be self-sufficient in aluminium instead of importing by setting up plants overseas,¨ Mines Secretary Balvinder Kumar told Reuters. ¨We have asked them to expand their domestic capacity.¨

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