India's 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.
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.
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.
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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