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State Government | Multi State - India | PID: 189527
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The National Aluminium Company (NALCO) has lined up Rs 17,000 crore investments towards expansion plan.
The investment will be made towards enhancing capacity, foray into new areas, and increase coal production.
Nearly half of the proposed investment will be made in association with joint venture partners.
The company alone will pour Rs 6,000 crore for setting up downstream projects at Kamakhyanagar in Dhenkanal district of Odisha.
It has already identified land for the project and expects to commission the project within three years after receiving all statutory clearances.
The company will fund Rs 5,540 crore towards setting up a new alumina refinery stream which is likely to be commissioned in 2021-22. Once operational the project will enhance the company’s production.
The company in joint venture (JV) with Mishra Dhatu Nigam (MIDHANI) will set up a high-end aluminium alloy plant with investment worth Rs 4,450 crore.
The Andhra Pradesh government has already allotted 120 acre of land parcel for the project. The project has already received clearance from Niti Aayog in March 2019. The financial closure plan of the project is being worked out.
The company in JV with Gujarat Alkalies and Chemicals (GACL) is also setting up a caustic soda plant in Gujarat with Rs 2,000 crore investment. The land for the project has been transferred. Moreover, the company has received green nod for the project.
Major packages of the caustic soda project and captive power plant have been awarded. Land development, piling works and others are underway. The plant is expected to be operational by Q2/FY22.
| Updated on: 26 - Jun - 2019
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