Hindalco Industries, on 30 March 2005, signed an
MoU with the Jharkhand state government to set up an 3.25 lakh tpa aluminium
smelter in the state. The project, which also includes a 750 MW captive power
plant and a captive coal mine, is likely to cost Rs.7,800 crore.
The project is proposed to come up at Tumbagarha
in Latehar district of Jharkhand.