June 4, 2008 / 2:28 PM / 11 years ago

UPDATE 1-India's NALCO plans $9.3 bln expansion over 5 yrs

(Adds details of projects)

NEW DELHI, June 4 (Reuters) - India’s state-run aluminium maker National Aluminium Company Ltd (NALU.BO) said on Wednesday it plans to invest 400 billion rupees ($9.3 billion) over the next five years on overseas projects and domestic expansion.

The investments include smelter and power projects in Indonesia, South Africa and Iran, the company said in a statement.

It is pursuing three projects outside India, but plans to take up “one or two of these” on the basis of viability, it said.

NALCO has signed an accord with the Indonesian government for a 500,000-tonne smelter and a 1,250-megawatt captive power plant with planned investment of about 140 billion rupees.

The company also said it was exploring the possibility of setting up a smelter and power plant in South Africa where it could invest 160 billion rupees.

In Iran, the company plans to build a smelter in a joint venture. The smelter will have a capacity of 310,000 tonnes and will be built in two phases. The project would cost the company 80 billion rupees, NALCO said.

In India, the company will spend 70 billion rupees in a mines and refinery complex in southern state of Andhra Pradesh and 85 billion rupees on a smelter and power complex in eastern Orissa state.

It will expand its bauxite mining, smelting and refining capacities at its existing facilities with an expenditure of 60 billion rupees.

The other planned projects include an aluminium park at Angul in Orissa, an aluminium rail wagon production venture with another state-run firm Bharat Earth Movers (BEML.BO) and a cement plant. ($1=42.8 rupees) (Reporting by Devidutta Tripathy, Editing by Mark Williams)

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