Bhubaneswar: National Aluminium Company Ltd (Nalco) has drawn ambitious growth plans worth over Rs40,000 crore for the next five years, involving projects abroad and within the country.
“In order to emerge as a company of global repute, we have drawn ambitious growth plans worth over Rs 40,000 crore for the next five years. These include smelter and power projects in Indonesia and Iran,” Nalco Chairman R C Pradhan told reporters.
“In addition, the company is planning brownfield and greenfield projects within the country,” he said.
The company achieved 104.48% capacity utilisation in its smelter at Angul in 2007-08 with a production of 360,457 tonnes of aluminium cast metal, against 358,734 tonnes in previous year.
“Similarly, alumina refinery at Damanjodi recorded 100.04 per cent capacity utilisation with a production of 15,75,500 tonnes, against 14,75,200 tonnes in previous year,” he said.
“However, its 960 MW captive power plant near the smelter unit recorded a lower power generation of 5,609 million units against 5,968 million units in the previous year, mainly due to coal shortage,” the company chairman noted.
On foreign projects, Pradhan said Nalco has signed an MoU with Indonesia to set up a five lakh tonne smelter and a 1,250 MW captive power plant and the company plans to invest around Rs14,000 crore in the greenfield project.
Similarly, a 3.30-lakh tonne smelter has been planned in two phases in Iran, as a joint venture, at a cost of about Rs8,000 crore, he said adding that both the projects are likely to take off soon.