daijiworld.com
National Aluminium on a Major Diversification Drive: Chairman
Edited by : AL CIRCLE
2 min read
State-run National Aluminium Co (Nalco) wants non-core areas to contribute a fourth of its revenue through an ambitious diversification plan covering areas like nuclear energy, thermal units and other metals, chairman B.L. Bagra has said.
"In the power sector alone, Nalco has planned to invest a little less than Rs.1,000 crore from its own resources during this fiscal. Nalco is also interested to invest in non-aluminum businesses like copper, uranium and caustic soda," Bagra told IANS in an interview.
The Bhubaneswar-based company and India's third largest aluminum producer also wants to become a major independent power producer -- not just in conventional coal-based units but of nuclear energy and wind power as well, said Bagra, also the managing director.
"As far as our diversification endeavours are concerned, we are also joining Nuclear Power Corp to set up a nuclear power plant of 1,400 MW capacity in Kakrapar in Gujarat, in which we will hold 49 percent equity," he said.
Bagra also spoke about the efforts in other areas such as clean energy and said Rs.200 crore was being used in wind power. "We've been recently awarded a 50 megawatt contract for a wind power project in Andhra Pradesh. We hope to commission it by February."
Apart from power, Nalco was also interested to invest in non-aluminum businesses like copper, uranium and caustic soda, and was scouting for copper in Africa, Central Asia and Latin America. Also on the cards is a caustic soda plant in Gujarat.
"In the power sector alone, Nalco has planned to invest a little less than Rs.1,000 crore from its own resources during this fiscal. Nalco is also interested to invest in non-aluminum businesses like copper, uranium and caustic soda," Bagra told IANS in an interview.
The Bhubaneswar-based company and India's third largest aluminum producer also wants to become a major independent power producer -- not just in conventional coal-based units but of nuclear energy and wind power as well, said Bagra, also the managing director.
"As far as our diversification endeavours are concerned, we are also joining Nuclear Power Corp to set up a nuclear power plant of 1,400 MW capacity in Kakrapar in Gujarat, in which we will hold 49 percent equity," he said.
Bagra also spoke about the efforts in other areas such as clean energy and said Rs.200 crore was being used in wind power. "We've been recently awarded a 50 megawatt contract for a wind power project in Andhra Pradesh. We hope to commission it by February."
Apart from power, Nalco was also interested to invest in non-aluminum businesses like copper, uranium and caustic soda, and was scouting for copper in Africa, Central Asia and Latin America. Also on the cards is a caustic soda plant in Gujarat.
Previous article
Unwrought aluminum stocks 1 million tonnes in June - IAI
Next articleMongolia Signs Coal Deal
Grow with
AL Circle
