NALCO to enter metal and power sectors
Tags:
State-owned National Aluminium Company (NALCO) is gearing up for its third phase expansion at an investment of at least Rs.6,000 crore and planning to venture into metal and power sectors.
The Bhubaneswar-headquartered company, which is Asia's largest integrated aluminium producer, has completed the second phase of expansion recently with an investment of Rs.7,800 crore, it said in a statement.
As a part of its second phase expansion, the company has raised bauxite mines capacity to 63 lakh tonnes, alumina capacity to 21 lakh tonnes, aluminium capacity to 4.6 lakh tonnes and power generation capacity to 1200 MW.
The company will further enhance the alumina capacity to 29 lakh tonnes, aluminium capacity to 5.7 lakh tonnes and power generation to 1,700 MW, it said.
The capacity enhancement which will be taken up during the third phase is scheduled to complete by 2016.
Besides, the company has drawn up ambitious plans to grow both organically as well as inorganically to be a global company in the metals and energy sector, especially coal, bauxite, copper etc, it said.
As a part of these plans, Nalco has signed pacts with Nuclear Power Corporation of India Ltd (NPCIL) for establishment of a nuclear power plant in joint venture in Surat, Gujarat.
Also, Nalco has plans to venture into both upstream and downstream fields to leverage its strength in alumina and aluminium business in India and abroad, it said.
The company has planned to set up a 14 lakh tonne alumina refinery in Andhra Pradesh. The government of India has accorded prior approval for the mining lease proposals of Andhra Pradesh for awarding the lease to Nalco, it said.
The company has also planned to set up a five lakh tonne smelter plant and 1,250 MW power plant in any potential site in India, it said.
Nalco has also planned to set up an aluminium smelter in Indonesia. The government of Indonesia has already approved the foreign investment proposal of the company.
To expedite the project activities, Nalco has already opened a project office in Jakarta, it said.
Post new comment