Alcan (almost) out of OrissaPublished by MAC on 2007-04-13
Alcan (almost) out of Orissa
13th April 2007
The world's second biggest aluminium combine, Alcan, has pulled out of its Utkal bauxite/aluminium joint venture with the Indian company, Hindalco, in Orissa. While the huge Norwegian company, Norsk Hydro, did the same thing six years ago, it has never publicly acknowledged that this was because the project was unacceptable. At least Alcan seems to have gone one step further, letting it be known that the joint venture does not meet its criteria for "sustainability".
Nonetheless, as pointed out by the Canadian campaign group, Alcan't, the company still intends to profit by providing technology if Utkal still goes ahead.
Meanwhile, a new study from Montreal warns that subsidies granted to Alcan for the construction of a new smelter, could rob the province of Quebec of nearly three billion Canadian dollars.