Global Business in Iran Database

In-depth metrics and analysis of Iran's international economic partnerships.

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Nalco, Project Suspension

description

South Africa's Nalco has suspended operations in Iran where it was building an 800 MW power plant and an aluminum smelting facility. The firm said it had failed to find adequate financing for the projects and is still in talks with lenders. Some Nalco executives, however, concede that the decision was largely political.

Status

  • Current Status:
  • Discussion Date: Mon, 2009-11-16
  • Contract Date:
  • Completion Date:

Citation

1. "Nalco shelves SA project; puts Iran project on hold", The Economic Times, 16 November 2009, available at http://www.expressindia.com/latest-news/Iran-seeks--1-bn--advance--for-L....

2. "Nalco Shelves South Africa Projects", Wall Street Journal, 16 November 2009, available at http://online.wsj.com/article/SB125836678804150199.html.

All projects by Nalco