Bhubaneswar, Jun 04 (UNI) The National Alumnium Company Limited (NALCO)has drawn an ambitious growth plans involving massive investment of about Rs 40,000 crore in next 5 years.
The investment would be in the field of Smelter and Power Projects in Indonesia, South Africa and Iran apart from Brownfield and Greenfield growth projects within the country.
NALCO sources said the company which was recently conferred the Navaratna status, has never depended on the Central government budgetary support at any point of time, not even during the Rs 3600 crore first phase expansion project.
The second phase expansion at an investment of Rs4092 crore, is likely to be completed by the end of 2008 end.
Now, plans are underway for the third phase expansion, which is likely to entail an expenditure to the tune of Rs 6000 crore. Under this expansion, the bauxite mining capacity would be enhanced to around 90 lakh tonnes, alumina refining to 30 lakh tonnes,aluminium smelting to 6.3 lakh tonnes and power generation to 1700 MW per year.
NALCO sources said the Mines and Refinery Complex involving an investment of Rs 7000 crore has been planned in Andhra Pradesh. The Draft MoU in this regard is under negotiation with the Andhra Pradesh government.
In Orissa, the company would set up another Smelter and Power Complex in Ib valley in Jharsuguda District at an investment of Rs.8500 crore.
The project envisaged a smelter of 5 lakh tonne capacity and a coal-based power plant of 1260 MW capacity. Pre-feasibility report has been finalized by EIL and NALCO has submitted an application for allotment of water resources, the most critical factor, to the state government last month.
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