Nalco plans to invest Rs 40K cr in various projects

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 Corporation of India Ltd.

“The company has taken up several greenfield projects.

Smelter unit

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.

NPCIL venture

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 joint venture project with an estimated project cost of Rs 11,500 crore.

Alumina refinery

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.

Wind power project

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.

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.

Ultra mega power project

Nalco has also shown keen interest in the proposed 4,000-MW Ultra Mega Power Plant (UMPP) at Bedabahal in Sundargarh district of Odisha, Bagra said, adding that bidding for the project is likely to start later this year.

The company is in the process of forming a consortium of PSUs including BHEL, NMDC and Neyvelli Lignite Corporation to strengthen its bid.

Nalco has also expressed keen interest in the steel sector too.

The company proposes to takeover Kalinga Iron Works Ltd 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 third phase brownfield expansion at the existing facilities in Odisha at an estimated investment of Rs 7,500 crore.

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