State-run National Aluminium Company Limited (Nalco) on Wednesday announced its plans to set up mines and refinery project in the Andhra Pradesh and a second aluminium smelter in Orissa.
According to an official statement issued here by the Ministry of Mines, Nalco plans to spend $1.2 billion in the Andhra Pradesh project that would be located in Visakhapatnam district and Rs. 16,350 crore in Orissa that would be located in Brajarajnagar in Jharsuguda distrct for the smelter and a captive power plant. The proposed aluminium smelter will have five lakh tonnes a year capacity and will be completed in two phases.
Nalco has also signed a memorandum of understanding (MoU) with the Orissa Government for setting up an aluminium park at Angul in a 50:50 joint venture with the State’s Industrial Infrastructure Development Corporation (IDCO) at an investment of Rs. 75 crore.
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The proposed aluminium park is expected to promote downstream and ancillary industries that would encourage value addition within the periphery of the plant.