Nalco's Rs4,400-crore expansion nearing completion: minister

The ongoing second phase expansion project of National Aluminium Company (Nalco) at an investment of Rs4,402 crore is nearing completion, minister of mines and development of North Eastern region B K Handique said today.

The minister said this while addressing the second meeting of the consultative committee attached to his ministry on the functioning of Nalco, in New Delhi, on Wednesday.

He said one of the two 120 MW captive power units, has been commissioned since August 2009. Similarly, 93 per cent of the pots in smelter expansion are already in service. The minister hoped that the commissioning of balance pots would be completed soon.

The company, he said, has substantial cash reserve as well as surplus alumina capacity. For value addition, utilising the surplus alumina and for strengthening its market presence, the company is working out the possibility of setting up a green field smelter and power plant in the country or abroad, he added.

He said the company has shortlisted Indonesia and Iran as possible destinations, because of the availability of coal and cheap gas-based power.

Nalco has received recommendation of both central and state governments for mines and refinery project in Andhra Pradesh, Handique said, adding that the company has also signed a memorandum of understanding with Nuclear Power Corporation of India (NPCIL) for a joint venture in nuclear power production.

He said, Nalco has so far spent more than Rs100 crore for peripheral development activities near the operating units and other parts of Orissa. The company has also provided training and employment to several project affected persons, he added.