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                                                                   Exhibit 10.30

                 SUMMARY OF NOVELIS FOUNDERS PERFORMANCE AWARDS


PURPOSES

The purposes of the Novelis Founders Performance Awards (the "Plan") are (i) to
promote alignment of key executives with critical new share price targets for
Novelis, (ii) to provide a one-time additional compensation opportunity for the
key executives who will have the most significant impact on future Novelis share
price, and (iii) to align the financial interests of the key executives with the
shareholders to create a "win-win" proposition. The key executives selected by
Novelis Management and approved by the Human Resources Committee (the
"Committee") will participate in the Plan.

AWARDS

The Plan provides for the award of Performance Share Units ("PSUs") if certain
Novelis share price improvement targets are achieved within the prescribed time
periods. There will be three equal (in number of PSUs) tranches of PSUs and each
tranche will have a specific share price improvement target. For the first
tranche of PSUs, the target applies for the period March 24, 2005 through March
23, 2008. For the second tranche, the target applies for the period March 24,
2006 through March 23, 2008. For the third tranche, the target applies for the
period March 24, 2007 through March 23, 2008.

PSUs are valued on a one-for-one basis with a share of Novelis stock. PSUs that
are awarded are paid in cash at the time prescribed by the Plan. The value of
the PSUs to be paid will be determined at the time of the payment and will be
subject to the changes in the price of Novelis shares (up or down) until payment
is made.

If awarded, a particular tranche will be paid on the later of six months from
the date of the award or twelve months after the start of the performance period
and will be based on the stock price. The price of the PSUs will be the average
of the daily closing prices on the NYSE for the last five (5) trading days prior
to the payment date. This price can be higher or lower than the share price
improvement target based on actual market prices at the time of the payment. The
payment will be made in cash and will be subject to required withholding taxes.

Upon the occurrence of a Change of Control Event (as defined in the Separation
Agreement relating to Novelis's separation from Alcan), all PSUs awarded prior
to the Change of Control Event will be paid.

Upon the occurrence of a termination as the result of retirement, death or
disability, all PSUs awarded prior to the termination will be paid at the same
time as for active Participants. For all other terminations, all PSUs, whether
awarded or not, will be forfeited.

ADMINISTRATION, AMENDMENT AND TERMINATION

The Plan shall be administered by the Committee. The Committee shall have full
and complete authority to interpret the Plan and to prescribe such rules and
regulations and make such other determinations as it deems necessary or
desirable for the administration of the Plan.

The Novelis Board of Directors (the "Board") may at any time and from time to
time amend, suspend or terminate the Plan in whole or in part. No such
amendment, suspension or termination may, without the consent of the Participant
to whom PSUs have been awarded, adversely affect the rights of such Participant
with regard to those awarded PSUs.