State-run National Aluminum Company is going to invest about Rs 30,000 crore by 2027-28 on the company’s various expansion diversification projects, federal Coal and Mines minister Pralhad Joshi said January 7.
Out of this proposed amount, the company will spend over Rs. 7,000 crores on the fifth stream refinery, Pottangi bauxite mines, bauxite transportation system from south block and Utkal D & E coal mines.
Remaining Rs. 22,000 crores will be spent on smelter and captive power plant (CPP) expansions, which also include expansion of the company’s smelter plant at Angul district in Odisha with construction of a 1,400 MW feeder CPP.
“With the ambitious growth plans that NALCO has for the future, it will contribute significantly to the alumina and aluminium sectors having a multiplier effect in the production and consumption of this strategic metal,” Joshi said during its 41st foundation day ceremony.
The federal government is extending all round support to the mineral rich state Odisha to avoid any interruption in the mineral production of the country, Joshi added.
“Specially to expedite iron ore production in Odisha, we have approved the proposals to allot 2 iron ore mining blocks to Odisha Mineral Corporation and 1 block to Odisha Mineral Exploration Corporation Ltd on the request of the state.” Joshi said.
Joshi said that Nalco, in association with the state government is also setting up a world class aluminium park in Angul, in close proximity to its smelter plant to encourage development of downstream and ancillary industries in the state of Odisha. This will enhance employment in the area and give boost to local entrepreneurship.