Expansion plans to get re-evaluated by Nalco
The Indian state-owned aluminium giant Nalco is planning to re-evaluate its expansions plans, as per the words of Chairman and MD Sridhar Patra which came on 27th December’19. He upfront refused to provide details as the planning has to be placed before the board for further approval.
On the sidelines of a mining summit organized by CII, Patra said “We are revisiting our expansion plans. Whatever long-term plans you make, you cannot project for 10 to 15 years, because all the factors do not support in that manner.” He also added to his words “We have to re-modify. Whatever bottlenecks were there, we have removed almost all.”
In 2018, the company declared that it would invest over INR 30,000 crore over four years to afloat several fresh projects and commence major expansion programs. The execution of the projects includes 1 million tonnes/year volume 5th stream alumina refinery in the existing complex of Damanjodi for an estimated cost of INR 5,540 crore, which is having a prospect to be completed by April 2021.
Also, approx. INR 9,000 crore had already being used for the establishment of 6 lakh TPA smelter at the existing complex Angul, Odisha. Nalco is a Navratna CPSE under the Ministry of Mines, Govt. of India Enterprise. The company has been engaged in diversified operations in mining, metal, and power.
source: ALCIRCLE.COM
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