Indian company to invest US$3 billion in aluminium smelter

India`s National Aluminium Company Ltd. (NALCO) is looking into the possibility of building an integrated aluminium ingot smelter in the Indonesian province of South Sumatra at a total cost of US$3 billion.
A memorandum of understanding (MoU) to that effect was signed by the company`s finance director, BL Bagra, and South Sumatra Vice Governor Mahyuddin NS in the presence of Director General of Metal, Machinery, Textile and Multifarious Industries at the Trade Ministry Anshari Bukhari on Friday.
Bagra said the company would still have to conduct a feasibility study to build the project.
NALCO would only engage in the upstream aluminium industry, he said.