Economic Times reported that state run aluminum producer NALCO will spend about INR 22,000 crore in setting up 2 mega projects, one each in Andhra Pradesh and Orissa.

Mr BK Handique mines minister of India said in a written reply to the lower house that the Navratna firm will set up 0.5 million tonne aluminum smelter in Jharsuguda, Orissa along with 1,260 MW captive power plants at an estimated investment of INR 16,345 crore. Also, it will be installing an alumina plant with an annual capacity of 1.4 million tonnes in Visakhapatnam, Andhra Pradesh at a consideration of about INR 5,700 crore.

The company has recently been given bauxite mines in the southern state with a capacity of 4.2 million tonnes per year.

Mr Handique said that "National Aluminum Company Limited has informed that they propose to establish mines and refinery project in Visakhapatnam, Andhra Pradesh and an aluminum smelter plant and coal based captive power plant at Brajarajnagar in Jharsuguda, Orissa as a part of its expansion plan in India."

He added that the company has earmarked INR 2 crore each for pre project activities in both the states as on November 25th 2009. The time frame for completing these two projects could not be immediately ascertained.

(Sourced from Economic Times)