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Nalco to invest $4bn in Indonesia
October 07, 2011
India's state-run National Aluminium Co Ltd (Nalco) will invest $4bn in an aluminium smelter and power plant in Indonesia's East Kalimantan province, Indonesia's trade minister said.
The smelter will have a capacity of 500kt/y, Indonesian Trade Minister Mari Pangestu told a news conference after talks with his Indian counterpart, Anand Sharma.
In late July, Nalco, India's third-largest aluminum maker, said it was in talks with Indonesian state-run mining company PT Antam to set up a 500kt/y aluminium smelter and a 1260MW captive power plant.