Nalco to invest Rs 900 crore in Kakrapar Atomic Power plant – Feedback

Aluminium major Nalco will invest around Rs 900 crore in Kakrapar Atomic Power project to acquire 26 per cent stake in the plant and plans to increase it to 49 per cent later.

The state-run firm has been for quite some time exploring opportunities to enter power sector in a bid to secure an uninterrupted power supply for its aluminium production facilities, a senior government official said. It takes around $1,500-1,700 to produce one tonne of aluminium with alumina and power accounting for 40 per cent each of the cost, with raw materials and others contributing to the remaining 20 per cent. The Navratna firm’s Board has approved acquisition of 26 per cent stake in Kakrapar Atomic Power Project for around Rs 900 crore through its joint venture (JV) with Nuclear Power Corporation of India (NPCIL) — NPCIL-NALCO Power Company, the official added.

http://economictimes.indiatimes.com/industry/energy/power/nalco-to-invest-rs-900-crore-in-kakrapar-atomic-power-plant/articleshow/51276357.cms

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *