Nalco’s second phase expansion by year end

April 30th, 2008 - 2:46 pm ICT by admin  

Bhubaneswar, April 30 (IANS) The second phase Rs.5 billion expansion of India’s state-run National Aluminium Co Ltd (Nalco) will be completed by the end of this year, a company statement said Wednesday, a day after it was accorded the much awaited Navratna status. The expansion plans involves augmenting its bauxite mine capacity and increasing the capacity of its alumina smelter.

Plans are also afoot to set up smelter and power plants in Indonesia and South Africa by the company.

The company last year signed a deal with Indonesia to set up a 500,000 tonne smelter and a 1,250 MW capacity power plant in that country, the release said. Nalco plans to invest around $3.4 billion in this greenfield project, an official of the company said.

The company which is a flagship public sector undertaking of the ministry of mines was granted the Navratna status Tuesday, according to a memorandum by the department of public enterprises.

Navratna status is conferred on select Central Public Sector Enterprises (CPSE) after becoming significant players in the economic development of the country.

On achieving the status, certain powers are delegated to those CPSEs that had comparative advantages and capacity to become global giants.

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