State-owned aluminium company Nalco is looking to revisit its expansion plans, Chairman and Managing Director Sridhar Patra said on Friday. He, however, refused to give details as the plans have to be put before the board. “We are revisiting (our expansion plans)…Whatever long-term plans you make, you cannot project for 10 or 15 years… because all the factors do not support in that manner,” Patra said on the sidelines of a mining summit organised by CII.
“We have to remodify…Whatever bottlenecks were there, we have removed almost all,” he said.
Last year, the company had said it was all set to invest over Rs 30,000 crore over the next four years to launch a number of new projects and undertake major expansion programmes.
The projects under execution include 1 MTPA capacity 5th stream alumina refinery in the existing complex at Damanjodi at an estimated cost of Rs 5,540 crore which is expected to be completed by April 2021, it had said.
Moreover, around Rs 9,000 crore was being spent for establishment of 6 lakh TPA smelter at the existing complex at Angul in Odisha. National Aluminium Company Ltd (Nalco) is a navratna CPSE under the Ministry of Mines. The company has diversified operations in mining, metal and power.
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Source: Financial Express