NEW DELHI (Reuters) -- India's National Aluminium Company Ltd (NALCO) has put all its overseas projects on hold, including one in Iran, in order to focus on expanding domestic capacity, its chairman said on Monday.
NALCO last year signed an agreement with Iran's mining development body to explore the possibility of building an aluminum smelter. "Iran's proposal is attractive as long as gas prices are attractive, but not much of an indication in that area has come," Chairman Tapan Kumar Chand told Reuters. NALCO had also looked at setting up a 500,000-tonnes-per-year smelter and an associated power plant in Iran.