Nalco draws up Rs 50,000-crore expansion plans

Public sector aluminium major Nalco today said it has laid out a Rs 50,000-crore expansion plan spread over the next 8-9 years. "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 Rs 50,000 crore. In FY11, the company will spend Rs 1,500 crore towards capex," Nalco CMD A K Shrivastava told reporters on the sidelines of 'Aluminium India-2010' conference here. National Aluminium Company Ltd (Nalco) plans to increase its capacity from 4.6 lakh MT to 5.75 lakh MT, alumina refinery strength from 21 lakh MT to 29 lakh MT and de-bottlenecking of alumina from 21 lakh MT to 22.7 lakh MT. "We have no fund raising plans for the next two years as we have enough resources. But after that, we would require to raise funds," Shrivastava said, adding that the company has no plans for a follow-on public offer in the near future. The company plans to set up a Rs 16,000 crore greenfield project at Jharsuguda in Orissa and a Rs 5,600 crore alumina refinery at Visakhapatnam in Andhra Pradesh. It is also pllaning to increase its overseas footprint. Nalco is also setting up a smelter in Indonesia, he said.