INDIA: JOINT VENTURE CONSTRUCTION PLANS FOR PROPOSED $535,000,000 ALUMINA PLANT, JEFFERIES & CO. INC., AMBASSADOR GROUP INTERNATIONAL LTD. [USA], GUJARAT MINERAL DEVELOPMENT CORP. & GUJARAT ALKALIS AND CHEMICALS LTD. [INDIA] - Order #: 108498.

PROJECT OVERVIEW:

The local state of Gujarat continues to forge ahead in the development of major industrial projects. In so doing, the state recently entered into a joint venture with a consortium of American and Indian companies in view of building a new alumina plant. The partners in the planned undertaking include U.S.-based JEFFERIES & CO. INC. and AMBASSADOR GROUP INTERNATIONAL LTD. in conjunction with GUJARAT MINERALS DEVELOPMENT CORP. and GUJARAT ALKALIS & CHEMICALS LTD. of India.

According to the terms of the collaborative agreement, the American firms will collectively hold a 39% stake in the venture. Some 12% of the equity will be taken-up by the Indian companies while the balance of the shares will be offered to financial institutions, banks and the public.

Construction plans under consideration call for building an alumina plant with an installed production capacity of 750,000 tons per year. The new facility, to be sited in the Kutch district, is expected to cost about $535,000,000 to build. The area in question reportedly contains 35 to 40 years of bauxite reserves. And, the entire output of the plant is to be exported.

GUJARAT MINERAL employs a total staff of about 8,900 engaged in construction activities.

GUJARAT ALKALIES has a total employment of some 900 involved in the production of alkalies and chlorine. …