India’s second largest producer of aluminium National Aluminium Co Ltd (Nalco) has decided to invest around Rs 400 billion in greenfield and brownfield expansion projects by the next five years.

The company’s growth plans includes establishment of a 500,000-tonne smelter and a 1,250 mw captive power plant in Indonesia at a cost of Rs 140 billion.

Nalco is also planning to set up a smelter and power plant in South Africa with a total investment of around Rs 160 billion plus a 310,000-tonne smelter in Iran.

Moreover, the company is planning a greenfield mine and refinery complex in Andhra Pradesh with a total investment of Rs 70 billion.

Further revealing its development plan, the company plans to establish a new smelter and power complex at IB valley in Jharsuguda district, Orissa at an investment of Rs 85 billion.

Nalco has also decided to make an aluminium park in Angul, as a joint venture (JV) with Orissa Industrial Infrastructure Development Corp (IDCO).

Bharat Earth Movers Ltd (BEML) and Nalco have signed a contract to collaborate for the production of aluminium rail wagons, the company added.

The company added that it would build up a cement unit at Angul power plant with an investment of Rs 3 billion.

Nalco enjoys more managerial powers and commercial autonomy to chart its own path in the worldwide market after it was accorded Navratna status by the central government recently.

Shares of the company declined 1.71% to end at Rs 478.3 on the Bombay Stock Exchange (BSE). The total volume of shares traded was 54,789.