(FE)
State-run aluminium maker National Aluminium Company (Nalco) has lined up Rs 17,000 crore investments to enhance capacity, foray into new areas, and increase coal production. Nearly half of the proposed investment will be made in association with joint venture partners.
On its own, it will invest Rs 6,000 crore for setting up downstream projects at Kamakhyanagar in Dhenkanal district of Odisha. The company has already identified the land for the project and hope to commission the project within three years of receipt of all statutory clearances.
With an investment of Rs 5,540 crore, which will also be funded by the company, Nalco is setting up a new alumina refinery stream that is likely to be commissioned in 2021-22. “Once operational, this will ramp up Nalco’s production figures and thus, help in enhancing profitably,” a senior company official said.
