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BHUBNESHWAR, Oct 2 Asia Pulse - Public sector aluminum major National Aluminium Company Ltd (Nalco) (BSE:542234) is eyeing Oman and Indonesia to set up smelters to avail of cheaper energy sources there, a top company official has said.
"Cheaper power is a vital factor for our growth. About 30 per cent of our production cost goes on account of power consumption. Our study says, the company could avail cheaper power in Indonesia as well as Gulf countries," Nalco Chairman-cum-Managing Director C R Pradhan said here.
Speaking at the company's annual general meeting yesterday, Pradhan said a coal block had been identified in Indonesia.
"We are now studying different aspects including land cost and mine development on foreign soil. Coal blocks are abundantly available in Indonesia and it is easier to get mining lease (there)," he ...