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

Aluminium PSU major Nalco would infuse Rs 1,700 crore as equity in the Kakrapar nuclear power plant in Gujarat to pick up 49% stake, a top company official said today.

"Nalco will pick up 49% equity at a price of Rs 1,700 crore in the Kakrapar nuclear power plant," CMD of Nalco B L Bagra said.

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 here.

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.