Nalco to infuse Rs 1,700 crore equity in Kakrapar N-plant

The size of the Kakrapar plant would be 2X700 MW in phase II,he said adding Nuclear Power Corporation of India Limited NPCIL is also a partner in the project.

The plant would be commissioned by 2015,Bagra told reporters on the sidelines of a seminar on non-ferrous metals in Kolkata.

Bagra said the company was also planning to set up a 50-MW windmill in Andhra Pradesh at a cost of Rs 274 crore,besides bidding for the Ultra Mega Power Plant UMPP at Sundergarh in Orissa.

Nalco was already having a 1200-MW power plant for its captive use. The company was also planning diversification into metals like copper and uranium.

We have decided to diversify into other metals sector in view of the global liquidity crisis, Bagra said.

For uranium,the company was scouting for assets in Africa,Bagra said adding that in Latin America Nalco was scouting for copper. Bagra said although India was surplus in bauxite reserves,the company was still seeking mining rights for the metal in a few African nations like Guinea and Cameroon.

He said that once the power generation capacity goes up substantially,Nalco would hive off the business into a wholly-owned subsidiary.

Other metal businesses would also be spun off into a separate company,Bagra said.

On Nalco8217;s vision,he said the company was eyeing for non-aluminium metals which would contribute at least 25 per cent of the total revenue in the next five years.

About investment plans,Bagra said that the company would invest Rs 1,000 crore each year.