Mumbai: National Aluminium Company Ltd (Nalco) plans to invest around Rs40,000 crore ($9.5 billion) in the next five years in its various expansion projects.

Nalco's current projects include smelter and power projects in Indonesia, South Africa and Iran. Nalco is also planning brownfield and greenfield growth projects within the country, the company said.

Nalco had signed a deal with Indonesia to set up a 500,000-tonne smelter and a 1,250MW captive power plant, involving an investment of around Rs14,000 crore.

Nalco is also exploring the possibilities of setting up a smelter and power plant in South Africa, at an investment of around Rs16,000 crore. It has also plans to set up a 310,000-tonne smelter in Iran.

Other projects include a Rs7,000 crore mines and refinery complex in Andhra Pradesh, for which a draft memorandum of understanding (MoU) is under negotiation with the state government.

Nalco has also planned a smelter and power complex in Jharsuguda district of Orissa, at an investment of Rs8,500 crore, as also an aluminium park in Angul, as a joint venture with Orissa Industrial Infrastructure Development Corp (IDCO).

Meanwhile, Bharat Earth Movers Ltd (BEML) and Nalco have reached an agreement to collaborate in the production of aluminium rail wagons, the company added.

The two public sector companies would be jointly developing the products with Nalco supplying the aluminium extrusions after conversion from its billets and ingots through a third party.

Nalco also plans to enter cement production by developing a cement unit at Angul power plant. The project will involve an investment of Rs300 crore.