Nalco to invest Rs 40k crore on various projects; keen on energy

BHUBANESWAR: Aluminium giant Nalco, which has plans to invest around Rs 40,000 crore in various new as well as existing projects, has a special focus on its entry into the energy sector - especially its joint venture with nuclear power major NPCIL, a top official said today.

"The company has taken up several greenfield projects. As part of this drive, plans are afoot to set up a new smelter in Western Odisha with an investment of about Rs 16,000 crore," Nalco Chairman and Managing Director B L Bagra told reporters here today.

The project is now being pursued with the Odisha government by the Navaratna PSU, he said

Besides, Bagra said the company has formed a Joint Venture with Nuclear Power Corporation of India Ltd (NPCIL) to set up nuclear power plants in India.

Both the partners have selected Kakrapar Units 3 and 4 of 700 MW each in Gujarat as their first JV project with an estimated project cost of Rs 11,500 crore, he said.

The company is also planning to set up a Rs 4,500 crore alumina refinery in Gujarat with 1 million tonne per annum capacity. Preparation of Detailed Project Report (DPR) has been taken up, Bagra said.

It also has plans to set up a 1.4 million tonne a year alumina refinery in Andhra Pradesh, based on bauxite reserves in that state. "To start with, some CSR works have been undertaken in the vicinity," he added.