Middle East Economic Survey

VOL. LII

No 47

23-Nov-2009

IRAN

Indian Companies Back Away From Iranian Projects

Indias National Aluminum Company (Nalco) announced on 16 November that is has decided to put on hold a plan for the construction of a 300,000 ton/year smelter and an 800mw power station in Iran due to political considerations. Nalco said that it would keep monitoring the political developments in the country, and that it was willing to invest up to 100bn rupees ($2.16bn) on the two Iranian...