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Nalco in strategic deal with Rio Tinto Alcan

Nalco in strategic deal with Rio Tinto Alcan
PTI
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First Published: Fri, Dec 12 2008. 11 46 AM IST
Updated: Fri, Dec 12 2008. 11 46 AM IST
Mumbai: State-run National Aluminium Co Ltd today said it has signed an agreement with Canada-based Rio Tinto Alcan to increase its global presence.
It has signed a strategic alliance with the arm of global miner Rio Tinto for increasing its presence in India and abroad, Nalco said in a filing to the Bombay Stock Exchange.
The agreement signed yesterday in Bhubaneswar, facilitates both companies to share information for identifying potential to create value for both the organisations, the filing added.
“The alliance is expected to help Nalco enlarge geographical spread of the company’s operations,” Nalco Chairman and Managing Director C R Pradhan said.
Rio Tinto is involved in the business of exploring, mining and processing mineral resources.
Shares of the company were trading at Rs182.25, down 5.51% in the morning trade on the BSE.
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First Published: Fri, Dec 12 2008. 11 46 AM IST