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India’s NALCO plans $9.3 bln expansion over 5 yrs
Posted by naatmad on Wednesday, 4 June, 2008
NEW DELHI, June 4 (Reuters) – India’s state-run aluminium maker National Aluminium Company Ltd (NALU.BO: Quote, Profile, Research) said on Wednesday it plans to invest 400 billion rupees ($9.3 billion) over the next five years on overseas projects and domestic expansion.
The investments include smelter and power projects in Indonesia, South Africa and Iran, the company said in a statement.
It is pursuing three projects outside India, but plans to take up “one or two of these” on the basis of viability, it said.
NALCO has signed an accord with the Indonesian government for a 500,000-tonne smelter and a 1,250-megawatt captive power plant with planned investment of about 140 billion rupees.
The company also said it was exploring the possibility of setting up a smelter and power plant in South Africa where it could invest 160 billion rupees.
In Iran, the company plans to build a smelter in a joint Source Reuters
