Government has
rejected Balco’s proposal of sourcing technology for its Rs.5,000 crore
expansion plan from a China-based company Guiyang Aluminium. The reason cited
for rejection is that Guiyang Aluminium is not a proven vendor for such
expertise.
Details of the
expansion plan are listed below:
|
Facility
|
Units
|
Phase I
|
Phase II
|
|
|
|
From
|
To
|
From
|
To
|
|
Smelter
|
Lakh tpa
|
1.0
|
1.5
|
1.5
|
4.0
|
|
Alumina
refinery
|
Lakh tpa
|
2.0
|
3.3
|
3.3
|
8.3
|
|
Power
|
MW
|
|
|
270
|
840
|
The project would be financed by Rs.2,000
crore of equity and internal accruals and balance by way of external debt. The project
is slated to be commissioned by 2005.