New Delhi: The Rs 4091.51 crore expansion plan of the aluminium major NALCO (National Aluminium Company), approved by the Cabinet Committee on Economic Affairs today (Oct 13, 2004), will go a long way in making the public sector undertaking (PSU) globally competitive, sources said.

The NDA (National Democratic Alliance) Government delayed the proposal because it was serious about the disinvestment of NALCO, the sources said, adding the UPA (United Progressive Alliance) Government's policy, however, was not to disinvest the profit-making PSU.

The completion of the second phase of expansion will make NALCO's refinery capacity the 6th largest in the world, the sources said, adding NALCO is already Asia's largest integrated aluminium complex.

The expansion plan of NALCO proposes addition of 1.15 lakh tonnes of smeltering capacity, 240 mws of power generation capacity, 5.25 lakh tonnes of refinery capacity and 24 lakh tonnes of mining capacity, the sources said.

The project is expected to be completed within 50 months after being approved by the Cabinet Committee on Economic Affairs.