December 10, 2007 -- India's National Aluminium Company (Nalco) (BSE:532234) will build an aluminum smelter and power generating plant in South Sumatra with a total investment of US$3 billion.

Nalco will sign an agreement with the Indonesian government to secure full support from the authorities in the country for he implementation of the project.

After the signing of the agreement scheduled in January, next year, Nalco will start feasibility study, an official of the industry ministry said.

Metal Director I Gusti Putu Suryawirawan said the government will set up two teams of experts to work as partners of Nalco.

The first team will help regional administration of South Sumatra to facilitate implementation of the project and the second team will help Nalco in securing necessary licenses, establishing business contact and developing a cluster for aluminum industry.

Source: Asia Pulse