New Delhi: Breaking News! The National Aluminium Company Limited (NALCO) has announced its plans to set up new projects in Andhra Pradesh and Orissa. The company will set up mined an refinery project in Andhra, while it will set up a second aluminium smelter in Orissa.
NALCO is planning to spend $1.2 billion in the project in Andhra Pradesh. It will be located in Visakhapatnam district. For the Orissa project, NALCO will invest Rs 16,350 crore. It will be set up in Brajarajnagar in Jharsuguda distrct.
NALCO has also signed a MoU with the Orissa Government for setting up an aluminium park at Angul. The joint venture will be based on a 50:50 sharing. The partnership will be between NALCO and Industrial Infrastructure Development Corporation (IDCO) at an investment of Rs. 75 crore.
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