Synopsis:
Nalco’s CMD has announced a joint venture with Coal India and NTPC to supply coal for a proposed Rs. 12,000-crore power plant in Odisha.
A Navratna company engaged in the manufacturing and sale of alumina and aluminium is in the spotlight after its CMD announced plans to form a joint venture to secure coal supply for its proposed Rs. 12,000-crore power plant.
With the market capitalization of Rs. 34,525 crore, the shares of National Aluminium Company Ltd is trading at Rs. 188, up by 1.75 percent from its previous day’s close price of Rs. 184.79 per equity share, and it has reached a high of Rs. 188.11 in the same trading day.
What’s the news?
CMD of Nalco, Brijendra Pratap Singh, said on Thursday that the company is exploring a joint venture with Coal India and NTPC to secure coal supply for its proposed Rs. 12,000 crore power plant in Odisha.
Management Views
Nalco CMD Brijendra Pratap Singh said the company will set up a 1,080 MW coal-based power plant in Angul, Odisha, to support its upcoming aluminium smelter unit. A consultant has been appointed to prepare the DPR, and talks are underway for a possible JV with Coal India, NTPC, or other partners. The project is part of Nalco’s Rs. 30,000-crore expansion plan, with Rs. 18,000 crore earmarked for the smelter and Rs. 12,000 crore for the power plant.
On the impact of US tariffs, Singh noted that alumina availability in the Indian market has risen, creating some price pressure domestically, though the company is also exploring export opportunities in the UK market.
Looking ahead, Nalco aims to achieve Maharatna status by 2030, targeting turnover growth from Rs. 17,000 crore currently to over Rs. 25,000 crore through its planned refinery and smelter expansions, which are expected to significantly boost revenue.
About the Company
National Aluminium Company Limited (Nalco) is an India-based company that manufactures and sells alumina and aluminium through its Chemical and Aluminium segments.
It operates a 22.75 lakh TPA alumina refinery in Damanjodi, Odisha, and a 4.6 TPA aluminium smelter in Angul, Odisha, which is powered by a 1,200 MW captive power plant. The company also operates four wind power plants with a combined capacity of 198.40 MW in Andhra Pradesh, Rajasthan, and Maharashtra.
Written by Akshay Sanghavi
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