Nalco to Invest $9.3b in 5 years for Expansion

New Delhi, June 4—India’s national aluminum producer Nalco said Wednesday that it plans to invest 40,000 crore rupees ($9.3 million) over domestic and international expansion projects within the following 5 years. The investment will include smelters and power projects in Indonesia, South Africa and Iran, said the company in a statement. The company has now 3 projects abroad, but will choose one or two on the basis of their developing ability. Nalco has reached agreements with Indonesian government over a 500,000-ton smelter and 1,250 MW power plant, which are expected to be invested 14,000 crore rupees. The company is also considering a feasibility study for a smelter and a power plant in South Africa that may cost 16,000 crore rupees. Nalco is projecting to build an aluminum smelter through a joint venture in Iran. The 310,000 tpy smelter will be built in two phases with cost at 8,000 crore rupees. For the domestic projects, Nalco will invest 7,000 crore rupees in building a mine and a refinery plant in the southern state of Andhra Pradesh as well as a smelter and a power plant in east Orissa for 8,500 crore rupees. It will expand its exsiting bauxite, smelters and refinery plants for around 6,000 crore rupees. The investment will also include some other projects, said Nalco in a statement. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.