PSU NEWS
NALCO draws up Rs 37,000-cr plan for expansion, diversification
Kolkata.March 21 , 2016
National Aluminium Co Ltd is planning to invest over Rs 37,000 crore over the next 5-7 years for expansion of existing facilities, setting up of new smelter unit overseas, development of mines and diversification in power.
Reducing expenses
According to Tapan Kumar Chand, Chairman-cum-Managing Director, Nalco, the company is undertaking the investment plan to reduce operational expenses and to beat the depressed market realisations.
“Over Rs 37,000 crore will be spent over the coming 5-7 years. Focus will be on reducing costs of producing aluminium by achieving higher economies of scale,” the CMD told BusinessLine.
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