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:: RAK to Set Up Aluminum Smelter in India
Ras Al-Khaimah (RAK) has signed a memorandum of understanding (MOU) for a joint venture with the government of the south Indian state of Andhra Pradesh (AP) to set up a one million ton alumina refinery plant and a 250,000 ton per year aluminum smelter in the state.
Ras Al-Khaimah, represented by the Ras Al-Khaimah Investment Authority (Rakia), will set up a registered company in India to establish the plant, which would have a provision to double its capacity in the future, using the bauxite resources available in the state.
Ras Al-Khaimah Crown Prince and Deputy Ruler Sheikh Saud Bin Saqr Al-Qasimi said that the emirate was honored to partner with Andhra Pradesh for setting up the landmark venture that would enable RAK to share its considerable expertise in the industrial sector for the development of Andhra Pradesh.
"The venture marks the further strengthening of the close relations between Ras Al-Khaimah and Andhra Pradesh, which has seen the creation of successful partnerships like the RAK Ceramics factory located at Kakinada in the state," he said.
The agreement, which was signed by Sheikh Saud and Andhra Pradesh Chief Minister Dr. Y.S. Rajasekhara Reddy, will also mark a milestone in the development of the industrial sector of Andhra Pradesh, which has reserves of about 550 million ton metallurgical grade bauxite in the Vishakapatanam and East Godavari districts. The Andhra Pradesh Mineral Development Corporation (APMDC) will supply the bauxite needed for the new plant. The plant will have a captive power generation facility to meet its energy needs.
Rakia CEO Dr. Khater Massaad said the construction of the plant would start in six months and expect the production to commence in less than three year's time.
"The state-of-the-art alumina plant in Andhra Pradesh will incorporate the most modern and energy efficient technology available in the world," he said.
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