News Brief | November 2015
Legal blocks hold Nalcos nuclear project
National Aluminium Company (Nalco)´s plan to foray into nuclear energy generation has hit a legal roadblock. Though the aluminium major proposed to set up a Rs.12,000 crore nuclear energy plant in joint venture with Nuclear Power Corporation of India Ltd (NPCIL), it is unable to go ahead with the project with the present act restricting the sector to only a couple of its own fully owned subsidiaries under the Atomic Energy Department.
´We are waiting for suitable changes in the act before going ahead with the investment. We hope it will be done soon´, said TK Chand, chairman and managing director of Nalco.