Mar. 1, 2010
It is reported that public sector aluminium major Nalco has laid out INR 50,000 crore expansion plan spread over the next 8, 9 years. Mr AK Shrivastava CMD of Nalco said that "We have taken up the third phase expansion project to increase capacity. The expansion will be completed in 8, 9 years involving a capital outlay of INR 50,000 crore. In 2011, the company will spend INR 1,500 crore towards CAPEX." He said that Nalco plans to increase its capacity from 0.46 million tonnes to 0.575 million tonnes, alumina refinery strength from 0.21 million tonnes to 0.29 million tonnes and de bottlenecking of alumina from 0.21 million to 0.227 million tonnes. Mr Shrivastava said that we have no fund raising plans for the next 2 years as we have enough resources. But after that, we would require to raise funds. He added that the company has no plans for a follow on public offer in the near future. He said that the company plans to set up INR 16,000 crore Greenfield project at Jharsuguda in Orissa and INR 5,600 crore alumina refinery at Visakhapatnam in Andhra Pradesh. It is also planning to increase its overseas footprint.
