NALCO to power ahead with Rs57,903 expansion
22 Aug 2011
State-owned aluminium producer NALCO is planning a capital investment of Rs57,903 for its expansion projects by 2020. This would include the establishment of two large aluminium smelters in India and abroad.
The Navratna firm has lined up investment of Rs16,500 crore in Indonesia for setting up a 5 MMT smelter, with 1,250 MW power plant, according to report by the parliamentary standing committee on coal and steel.
According to NALCO, the other smelter of the same size would come up in Western Orissa in two phases, with 1,260 MW power plant at an estimated investment of Rs16,345 crore.
The company plans to construct a new alumina refinery of 1.4 MMT in Andhra Pradesh as also a 1,000-MW power project as independent power producer.
An investment of Rs10,600 crore would be required for each of the projects according to the report. It added that the rest of the amount would go towards funding the existing projects.
The company's vision document 2020 said it was targeting a turnover of Rs25,000 crore by then, with an annual aluminium production capacity of 1.7 MMT.