Billiton, the world''s largest mining company, is entering India through a joint
venture with Mumbai-based mineral producer and exporter Ashapura Minechem.
Australian mining giant is expected to pick up 51 per cent in Ashapura Minechem''s
Rs 2,500-crore alumina refining project in Orissa. Ashapura will hold the remaining
49 per cent.
two partners will invest Rs800 crore towards equity participation and the remaining
Rs1,700 crore will be mobilised through debt.
they will take some time to sign on the dotted line since government approval
for the project is awaited.
Shah, managing director, Ashapura Minechem, declined to disclose the identity
of his partner for the project. He added that government clearance would take
another three months and the project would be commissioned by the end of next
a presence in 25 countries, has been doing business in
India for over 30 years, but does not have an equity interest in any domestic
project will cost around Rs2,500 crore and is expected to come up in the next