NEW DELHI: State-owned  National aluminium Company (NALCO) will invest around Rs 30,000 crore over the next 7-8 years on its expansion and diversification, Union Coal and Mines Minister Pralhad Joshi on Thursday said. NALCO's growth plans will "contribute significantly" to government's self-reliance vision in terms of production and consumption of alumina and aluminium in the country, the minister said.

"NALCO will invest around Rs 30,000 crore by the financial year 2027-28 on the company's expansion and diversification plans," he said while addressing the 41st Foundation Day of National Aluminium Company Ltd (NALCO) at the company's headquarters in Bhubaneswar, Odisha.

Of the proposed investment, Rs 22,000 crore will be spent on smelter and captive power plant (CPP) expansions, which also include expansion of the company's smelter plant at Angul district in Odisha with the construction of a 1400 MW feeder CPP. Besides, the company will spend over Rs 7,000 crore on the 5th stream refinery.

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