NALCO to Invest Rs. 30,000 Crore on Expansion

Bhubaneswar: National Aluminium Company Limited (NALCO) will invest around Rs. 30,000 crore by financial year 2027-28 on the company’s expansion and diversification plans, said Union Minister for Coal & Mines Pralhad Joshi today.

“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. Forty glorious years of sustainable growth reflects the fact that NALCO has matured in the business cycle and now exponential growth and expansion will take this CPSE to the next level of business excellence,” said Shri Pralhad Joshi, Hon’ble Union Minister of Parliamentary Affairs, Coal & Mines while addressing the 41st Foundation Day celebrations of the Company, today at Bhubaneswar.

The Union Minister appreciated the dedication, hard work of the management and employees for continuing their efforts for optimizing production and productivity, particularly during the last few months wherein there has been a slump in metal prices and onset of COVID 19 pandemic. On this occasion, the Hon’ble Union Minister Shri Joshi also stressed on the fact that there exists a huge scope for increasing the per capita consumption of Aluminium in the country and it is the right time for the Indian Aluminium industries to ramp up their production and leverage this opportunity. “The annual consumption is stated to grow many fold with demand picking up under Government of India’s Atmanirbhar Bharat initiative in sectors like power, building & construction, packaging, automobile manufacturing and transportation”, he said.

On NALCO’s growth plans, he said that, for NALCO to remain a significant contributor in the alumina and aluminium sectors, it is essential that NALCO must go for its planned expansion, with an estimated investment of around Rs. 30,000 Crores in the next 7 – 8 years. “This will help the company for its sustainability and competitiveness. Moreover, Aluminium industry being one of the fastest growing sector among all metals has the potential to attract huge investments in the near future”, he added.

“The Rs. 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 tonne and Captive Power Plant by another approximately 1200 MW through brownfield expansions at Angul district of Odisha has been envisaged in this growth plan”, he added.

Speaking on the occasion, NALCO CMD Sridhar Patra has presented the company’s significant performance in last fiscal.

Patra has highlighted the NALCO’s export earnings that accounted for about 59% of the sales turnover in the 1st half of this financial year.

He also informed regarding caustic soda plant that has been set up in JV with Gujarat Alkalies & Chemicals Ltd which is likely to be commissioned in early 2021-22.

Worth mentioning that NALCO is in the advanced stage of obtaining mine opening permission after execution of lease deed for 2 MTA of Utkal D coal block in the 1st quarter of 2021-22. Further, Hon. 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.

Comments are closed.