Gujarat Mineral Development Corporation and Mumbai based Alumina Refinery Limited will jointly take up project to manufacture speciality chemicals from Bauxite in Kutch.
The state government had earlier decided to value add the minerals instead of selling raw ores. The move is in line with the state policy and it is the third JV by the state PSU that has been approved by the state government in past three weeks.
GMDC will have 26% stake in the joint venture and ARL will have the rest 74% stake in the business. Initially, INR 10 crore will be pumped in, of which GMDC will contribute INR 2.37 crore and ARL will contribute INR 6.73 crore in the INR 30 crore project.
The 18,000 tonnes per annum proposed plant will produce Alumina Trihydrate (1160 tonnes per month), Activated Alumina (625 tonnes per month), Calcined Alumina (42 tonnes per month) and Sodium Aluminate (300 tonnes per month).
The company will require an estimated 54,000 tonnes of bauxite for the project. GMDC will supply this from its mines in Kutch district. Mr VS Gadhvi MD of GMDC said that "We have stopped selling raw bauxite. The value-addition will be done within the state. That will increase the value of the end product by about 12 times. We will enter into long term contract according to the rate prevailing on the London Metal Exchange to ensure viability of the project.”
This is the third joint venture by GMDC that has been cleared by the state department of Industries and Mines. The earlier two joint ventures were for value-addition of Flourspar and Zeolite. GMDC had tied up with Gujarat Flourochemicals Limited and Navin Flourine International Limited. GMDC has a 50% share in the INR 40 crore project at Kadipani near Chhota Udepur, while the rest of the share is being equally shared by GFL and NFL.
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