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Monday, 12 April 10
INDIA'S NALCO TO INVEST BIG IN INDONESIA'S ALUMINIUM PROJECT - BERNAMA


Bernama reported that, India's state- owned National Aluminium Company Ltd (Nalco) is to pump in massive investment to set up a aluminium smelter and a coal-fired power plant in Indonesia.

The Indonesian government is said to have approved the Indian company's multi-million dollar investment project in the coal-rich East Kalimantan region, said media reports.

"We have projected an investment of around Rs1,500 crores (RM1.05 billion) a year in Indonesia, starting 2012-13.

"The investment will be made in tranches and the amount will go up in step with the progress of the project," A.K. Srivastava, Nalco chairman and managing director, was quoted by the Economic Times in Kolkata.

Nalco is planning to set up a 500,000 metric tonne smelter and a 1,250MW coal-fired power plant in East Kalimantan in the next 48 months.

Investment in the green field projects, to build both the plants, is estimated to cost Nalco nearly US$3 billion (RM10.5 billion).

The public sector unit, under India's Ministry of Mines, signed a MoU with the Indonesian government in January 2008 to initiate the project.

Nalco will collaborate with the United Arab Emirates' RAK Minerals & Metals to develop port facilities and rail corridor in Indonesia to transport the coal, said Srivastava.

The Orissa-based company produces nearly 400,000 metric tonnes of metal a year, making it the third largest aluminium maker in India
Source:
Bernama (By P. Vijian)



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Recent News

Thursday, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...


Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...


Thursday, 01 April 10
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STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...


Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...


Wednesday, 31 March 10
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DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...


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