Nalco to invest Rs 30,000 Crore in Odisha

9 September 2015

Aluminium major National Aluminium Company Ltd (Nalco) said it will invest Rs 30,000 crore in Odisha, which has unveiled a new industrial policy aimed at attracting investments worth Rs 1,73,000 crore.

"Out of the prospective investors in Odisha, Nalco is in a position to invest to the tune of Rs 30,000 crore," the state-owned company's CMD T K Chand said. Chand was addressing bankers at the 110th foundation day of Bank of India here yesterday, a Nalco release said on Tuesday.

The CMD referred to the recent launch of Odisha's new industrial policy through which the state is well-poised to attract investments to the tune of Rs 1,73,000 crore.

Congratulating the employees of BOI, Chand said the banking sector had been the strength of Indian economy. In that context, BOI's role with about 5,000 branches in India and 60 overseas, was very significant, he added.

P.K. Jena, Regional Director, Reserve Bank of India and Durga Prasad Mishra, DGM & Zonal Manager (BOI), also addressed the gathering.