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

Aluminium PSU major Nalco would infuseRs 1,700 crore as equity in the Kakrapar nuclear power plant in Gujarat to pickup 49 per cent stake, a top company official said on Friday.

"Nalco will pick up 49 per cent equity at a price of Rs1,700 crore in the Kakrapar nuclear power plant," CMD of Nalco B L Bagrasaid.

The size of the Kakrapar plant would be 2X700 MW in phaseII, he said adding Nuclear Power Corporation of India Limited (NPCIL) is also apartner in the project.

The plant would be commissioned by 2015, Bagra toldreporters on the sidelines of a seminar on non-ferrous metals here.

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

Nalco was already having a 1200-MW power plant for itscaptive use. The company was also planning diversification into metalslike copper and uranium.

"We have decided to diversify into other metals sectorin 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 wasscouting for copper