Nalco rises on plans to set up 100Mw wind power project

Company plans to set up 100Mw wind power project at a cost of Rs 660 crore

Shares of National Aluminium Company was up over 2% at Rs 60.20, after the company at its AGM held  on Saturday, announced plans to set up a 100 Mw wind power project with an investment of Rs 660 crore.

“The project will be set up shortly at a suitable location in India”, Ansuman Das, chairman cum managing director (CMD) of Nalco said at the company’s 33rd annual general meeting (AGM) here.

Selection of wind power developer is underway, he added. Nalco has already commissioned two wind power plants in Andhra Pradesh and Rajasthan.

The stock opened at Rs 58.75 and touched a high of Rs 60.25 so far. Over 446,000 shares were traded on both the stock exchanges so far.