India's NALCO plans to invest 55.2 billion rupees in Odisha

BHUBANESWAR (Reuters) - India's National Aluminium Co. Ltd. plans to invest 55.2 billion rupees ($756.4 million) in the eastern state of Odisha to expand capacity, a government statement said on Tuesday.

The company plans to manufacture aluminium products and a proposal has been sent to a panel headed by the state's chief minister for approval, the statement added.

Odisha has received investment proposals worth 74.16 billion rupees, mainly from Indian companies, as part of its drive to create employment, the state government said.

(Reporting by Jatindra Dash, editing by Louise Heavens)