The country's public sector aluminium producer, the National Aluminium Company (Nalco), has announced its decision to explore thermal, hydro and nuclear route, in a bid to make an entry into power sector as an independent producer.

Nuclear Power Corporation of India Limited and NALCO has already formed a joint venture and is working to promote a 1000 Mw nuclear power plant, investing around Rs
8,000 crore. Nalco Finance Director B. L. Bagra said: "We are trying to spread the risk keeping in view the economic meltdown, instead of remaining dependent on one commodity. It is part of our diversification plan."

CR Pradhan, the Chairman and Managing Director of Nalco informed that the NCPIL board has given its approval for Joint Venture and Memorandum of Understanding for setting up a new project, in which Nalco will hold 49 per cent stake while 51 per cent would be owned by NPCIL. Pradhan said: "We are in talks with NPCIL. We have plans to become an independent power producer."

The Navratna PSU Nalco would manage power generation process; while NPCIL will be responsible for the operations of nuclear power plant, according to the provisions of the agreement. NALCO is also looking for opportunities in Nepal, North East and Orissa, for hydro-electricity generation.