NALCO to Invest INR 30 000 Crores for Expansion
India’s Minister of Mines Mr Pralhad Joshi, while addressing the 41st Foundation Day celebrations of NALCO at Bhubaneswar, recently said “It is indeed commendable that NALCO, which started with a modest investment way back in 1981 continues its leadership position with excellent performance for more than four decades. For NALCO to remain a significant contributor in the alumina and aluminum sectors, it is essential that NALCO must go for its planned expansion, with an estimated investment of around INR 30,000 Crores in the next 7-8 years. He said “This will help the company for its sustainability and competitiveness. Moreover, the Aluminium industry is one of the fastest-growing sectors among all metals has the potential to attract huge investments in the near future.”
He said “The INR 30,0000 Crores expansion plan of NALCO, spread over the next 7-8 years will include the expansion of its Refinery by one million tonne capacity, adding 3.5 million tonne capacity Pottangi bauxite mines and operationalization of Utkal D & E Coal Blocks. Further to this, enhancement of Aluminium Smelting capacity by 0.5 million tonnes and Captive Power Plant by another approximately 1200 MW through brownfield expansions at Angul district of Odisha has been envisaged in this growth plan.”
Worth mentioning that NALCO is in the advanced stage of obtaining mine opening permission after the execution of the lease deed for 2 million tonne of Utkal D coal block in the 1st quarter of 2021-22. Minister added that all clearances have been given by MOEFCC to Utkal-D Coal Block. Similarly, the company is concurrently in the process of obtaining statutory clearances for 2 MTA of Utkal E coal block with a plan to open the mine in 2022-23.