Nalco's Ambitious Expansion: A Step Towards Maharatna Status

Nalco is planning a joint venture with Coal India and NTPC for its Rs 12,000-crore power plant in Odisha. As part of its broader expansion, the company aims to increase its turnover to become a Maharatna firm. This includes investments in a new smelter and coal-based power plant.

The National Aluminium Company Ltd (Nalco) disclosed plans to enter a joint venture with Coal India and NTPC to secure coal for its ambitious Rs 12,000-crore power plant in Odisha. This initiative reflects Nalco's long-term vision for growth and self-sufficiency in energy resources.

Speaking to reporters, Nalco's Chairman and Managing Director, Brijendra Pratap Singh, revealed the company's comprehensive strategy to build a 1,080 MW power facility in Angul, Odisha. This plant will effectively support the power needs of its smelter unit, an integral part of the company's extensive expansion plans amounting to over Rs 30,000 crore.

Further highlighting its roadmap, Nalco aspires to achieve Maharatna status within five years. This goal involves enhancing its turnover by increasing operations in both domestic and international markets, including exploring UK export opportunities. Imposing US tariffs have increased local alumina availability, putting pressure on domestic prices, Singh noted.

(With inputs from agencies.)