Dubal, L&T $3.6bn JV deal

18th Sep 2005, 04:44 GMT

Dubai Aluminium and India-based Larsen & Toubro have agreed to develop a $3.6bn bauxite mining and aluminium refinery and smelter in India. The development will proceed in two phases; the first will cost $1.1bn and have a 1.5m-tonne capacity, with phase two involving the construction of an aluminium smelter and adding another 1.5m tonnes at a cost $2.5bn. [AMEInfo.com]