National Aluminium Company (Nalco) has announced its plan to invest around USD 1 billion in Iran’s aluminum industry and construction of a power plant.

Nalco and Kerman Development Organisation will form up a joint venture (JV) company to make investments in Iran's Aluminum industry and electriciry segment.

Along with management control, Nalco will hold the majority share in the joint venture company.

The new Nalco overseas project entails a 1.55 lakh ton smelter during the initial phase and another identical capacity smelter in the second one, along with a 750 mw gas based captive power plant.

Tehran  - The conservatives lead in the second round of Iran's parliamentary elections

Tehran  - Iran said it had not had a confrontation with the United States Navy in the Gulf, official news agency IRNA reported Friday night.

Tehran  - A delegation from the United Nations nuclear watchdog is to revisit Iran next week, ISNA news agency reported Friday.

Tehran  - Iran on Friday held the second round of parliamentary elections in which 164 candidates were com

Tehran  -  Iran on Friday is to hold the second round of parliamentary elections in which 164 will compete for the remaining 82 seats, including 11 for the politically important Tehran constituency