NALCO has shelved its proposed project in South Africa while its project in
Iran has been put on hold.
The company had planned a Rs 17,000-crore project in South Africa to set up a
five lakh tonne aluminium smelter plant and a 1,250 MW power plant. However,
both these projects have been dropped after the company realising that there is
no sufficient coal in the offered reserves to feed the ventures.
According to sources, NALCO has put on hold the Rs 10,000-crore Iranian
project, which involved setting up a 3.3 lakh tonne aluminium smelter plant and
an 800 MW power station, due to it's inability to raise funds for the project.
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