The East Coast bauxite discovery led to the setting up of India’s largest Alumina-Aluminium complex, National Aluminium Company Ltd (NALCO) in 1981 following technical collaboration agreement with Aluminium Pechiney of France. The project cost of ` 2,408 crore was part financed by 980 million euro dollar loan extended by a consortium of International banks. The Company has long back prepaid the loan, besides contributing more than ` 16,000 crore to Central and State exchequer as tax and duties etc, besides having huge cash reserve for future growth activities.