Unveiling a new plan for high growth through diversification and expansion, aluminium giant National Aluminium Company Ltd (Nalco) is set to invest more than Rs 33,000 crore in a host of sectors including energy to boost its productivity and profitability.
"National Aluminium Company is embarking upon an ambitious growth plan involving a massive investment of more than Rs 33,000 crore in next 3 to 4 years, not only in aluminium sector but also in energy sector," National Aluminium Company CMD Ansuman Das told reporters.
"National Aluminium Company has begun a new odyssey to conquor the challenges of present and threats of future with its new Corporate Plan ... this will give a significant boost to the company's productivity and profitability," he said.
The plan encompasses expansion - both brownfield and greenfield, diversification into energy and non-ferrous metal sectors, backward integration, merger and acquisition, Das said after National Aluminium Company's annual general meeting held here yesterday.
Referring to greenfield projects, the National Aluminium Company CMD said the company is planning to set up a Rs 5,500 crore alumina refinery in Gujarat with one million tonne per annum capacity.
Preparation of detailed project report for this has started.
Similarly, the company is also planning a Rs 16,450 crore smelter of 0.5 MTPA capacity and power plant of 1260 MW capacity in Odisha's Sundargarh for which approval of the high level clearance authority of the state government has been obtained, Das said.
Site selection study and preliminary land survey for the proposed project is under way and the company is actively pursuing allocation of coal block in this regard, he said.
On National Aluminium Company's foray into energy sector, Das said the company had formed a joint venture with Nuclear Power Corporation of India (NPCIL) to set up nuclear power plants.
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, adding construction work had already started and the project was scheduled to