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Utkal Alumina board to be recast soon

Calcutta, July 8: The board of Utkal Alumina International, a proposed three-million-tonne greenfield alumina project, will be reconstituted this month following substantial change in shareholding of the promoter companies.

Utkal Alumina, a 100 per cent export oriented unit, has become a subsidiary of Indian Aluminium Company (Indal) after the latter acquired a 35 per cent stake from Hydro of Norway, taking its holding to 55 per cent.

Indal chief executive officer and president S. K. Tamotia said a meeting of the board will be held during the month in which a few new faces will be inducted.

Asked when the project was expected to be on stream, Tamotia said, ďA number of issues have to be discussed."

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