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National Aluminium draws up Rs. 40,000 cr. investment plan

AMBITIOUS SCHEMES: Rolled product unit of National Aluminium Company at Angul

BHUBANESWAR: National Aluminium Company (Nalco) has announced that it had drawn up ambitious growth plans involving an investment of around Rs. 40,000 crore in the next five years.

The investments would be made in alumina smelters and power projects in Indonesia, South Africa and Iran, and brownfield and greenfield growth projects within the country.

The company that was given the Navratna status a few weeks ago also said that it would start the third phase of expansion of its existing operations in Orissa after the second phase of expansion was completed by the end of this year.

While the second phase of expansion was being implemented with an investment of Rs. 4,092 crore, the third phase was likely to involve an expenditure of Rs. 6,000 crore.

Under the third phase, bauxite mining capacity of the company will be enhanced to around 90 lakh tonnes annually, alumina refining to 30 lakh tonnes, aluminium smelting to 6.3 lakh tonnes and power generation to 1,700 MW, the company said.

The new projects that the company plans to set up include a mining and a refinery complex in Andhra Pradesh at an investment of Rs. 7,000 crore, and a smelter and power complex in the Ib Valley in Jharsuguda district of the State at an investment of Rs. 8,500 crore.

The proposed overseas projects include a 5 lakh tonne smelter and a 1,250 MW captive power plant in Indonesia with an investment of around Rs. 14,000 crore; a smelter and power plant in South Africa (Rs. 16,000 crore); and a 3.1-lakh tonne smelter in Iran.

The company has also entered into an agreement with Bharat Earth Movers Ltd. (BEML) to collaborate for producing aluminium rail wagons. Aluminium rail coaches and metro coaches will be taken up subsequently. The company has also decided to set up a cement plant based on fly ash. It had invited expression of interest from competent parties and two companies had been shortlisted for a joint venture. The project will involve an investment of Rs. 300 crore.

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