Nikkei MC Aluminium Co. (NMA) is planning to venture in India with an aluminium alloy plant.
The company is likely to form JV with Century Metal Recycling (CMR) for setting up a plant for manufacturing aluminium alloy, used in automotive sector, at Bawal in Haryana. The investment in the plant is pegged at Rs 50 crore. CMR will hold 74 per cent in the JV and the rest will be with Nikkei. The NMA and CMR JV will import aluminium scrap from overseas to use as raw material for making alloys. Work in the plant is expected to commence soon.
NMA has eight plants including three outside Japan with a total capacity of 2.4 lakh tpa.