CAPEX cuts - NALCO defers Saudi plan

My Iris reported that National Aluminum Company, which has put its INR 150 billion South Africa project on hold, it has postponed its Saudi Arabia plans too, after being unsuccessful to collaborate coal for the project. Currently, NALCO’s Iran project is doing well and is in the last stage to form a JV for coal supplies in Iran. It is spending INR 95 billion to expand its alumina capacity to 2.1 million tonne per annum from 1.58 million tonne per annum in the domestic market. It also intends to increase its aluminum and power capacities. It is learnt that the alumina refinery will commence its production from August 2009.