Nalco to invest Rs 40k cr on various projects; keen on energy
Aluminium giant Nalco, which has plans to invest around Rs 40,000 crore in various new as well as existing projects, has a special focus on its entry into the energy sector - especially its joint venture with nuclear power major NPCIL, a top official said today.business Updated: Aug 16, 2012 13:05 IST
Aluminium giant Nalco, which has plans to invest around Rs 40,000 crore in various new as well as existing projects, has a special focus on its entry into the energy sector - especially its joint venture with nuclear power major NPCIL, a top official said today.
"The company has taken up several greenfield projects. As part of this drive, plans are afoot to set up a new smelter in Western Odisha with an investment of about Rs 16,000 crore," Nalco Chairman and Managing Director B L Bagra told reporters here today.
The project is now being pursued with the Odisha government by the Navaratna PSU, he said
Besides, Bagra said the company has formed a Joint Venture with Nuclear Power Corporation of India Ltd (NPCIL) to set up nuclear power plants in India.
Both the partners have selected Kakrapar Units 3 and 4 of 700 MW each in Gujarat as their first JV project with an estimated project cost of Rs 11,500 crore, he said.
The company is also planning to set up a Rs 4,500 crore alumina refinery in Gujarat with 1 million tonne per annum capacity. Preparation of Detailed Project Report (DPR) has been taken up, Bagra said.
It also has plans to set up a 1.4 million tonne a year alumina refinery in Andhra Pradesh, based on bauxite reserves in that state. "To start with, some CSR works have been undertaken in the vicinity," he added
On the NPCIL venture, Bagra said the construction work has already started and the project is scheduled to be commissioned by December 2015.
Besides, Nalco is setting up a Rs 274 crore Wind Power Project in Andhra Pradesh with a capacity of 50.4 MW, which is in the final stage of commissioning. Plans are afoot for a second Wind Power Project of equal capacity, he said.
A third plant has been planned in the company's own worked out mined area at Panchpatmali in Koraput district of Odisha. Also, a Solar Power Plant of 15 MW is on the cards.
Nalco has also shown keen interest in the proposed 4,000 MW Ultra Megal Power Plant (UMPP) in at Bedabahal in Sundargarh district of Odisha, Bagra said, adding that the bidding for the project is likely later this year.
The company is in the process of forming a consortium of PSUs including BHEL, NMDC and Neyvelli Lignite Corporation in an effort to strengthen its bid.
Carrying forward its diversification plan, Nalco has expressed keen interest in the steel sector too.
The company proposes to take over Kalinga Iron Works Ltd (KIWL) at Barbil in Odisha, he said, adding that a proposal for takeover and establishment of a 1 MTPA steel plant has been submitted to the state government.
Referring to expansion plans, Bagra said Nalco has initiated activities for 3rd phase brownfield expansion at the existing facilities in Odisha at an estimated investment of Rs 7,500 crore.
First Published: Aug 16, 2012 13:02 IST