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NEW DELHI: National Aluminium Company (NALCO) will invest a total of 300 billion rupees ($3.43 billion) in a new smelter and a coal power plant over the next five years, Chairman and Managing Director Brijendra Pratap Singh said on Thursday.
The state-run aluminium producer will budget roughly 180 billion rupees to set up the proposed smelter in the eastern state of Odisha, Singh told reporters in New Delhi.
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The project will be funded by a mix of debt and internal accruals, he added.
The remaining 120 billion rupees will be used to set up a coal power plant, for which it is in talks with Coal India and NTPC, Singh said.
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