The public sector National Aluminium Company Ltd (Nalco) has drawn up ambitious expansion plans in Odisha and is ready to invest in other states including Andhra Pradesh, which is endowed with bauxite reserves, according to Chairman and Managing Director Tapan Kumar Chand.
On a visit to the Nalco facility in the port here on Wednesday, he said 2017-18 was a special year for the company, with net profit doubling to Rs 1,342 crore from Rs 669 crore, on the highest sales turnover of Rs 9,377 crore. Export earnings during the year amounted to Rs 4,076 crore. The company was adjudged the lowest cost producer of alumina globally.
Ongoing projects
Chand said there were several projects under execution in Odisha including the 1 MTPA alumina refinery brownfield project at the existing alumina refinery at Damanjodi, entailing an investment of Rs 5,540 crore, development of the Pottangi bauxite mines at Koraput, and the Utkal coal mines at Angul at a cost of Rs 534 crore. Angul aluminium park with downstream and ancillary units was being developed at a cost of Rs 100 crore and also a 60,000 MTPA alloy wire rod plant at Angul to produce more value-added products.
He said Nalco was undertaking projects in other states such as the 2.7 lakh TPA caustic soda plant in joint venture with Gujarat Alkalies and Chemicals Ltd at Dahej in Gujarat at an estimated cost of nearly Rs 2,000 crore and two wind power plants of 25 MWs apiece in Tamil Nadu at an estimated cost of Rs 310 crore.
Andhra Pradesh proposals: He said, "We wish to invest in Andhra Pradesh as well and have drawn up proposals to set up a greenfield alumina refinery and also a captive power plant, with an estimated investment of Rs 10,000 crore or more, if we are granted bauxite mines. Bauxite reserves are available in the agency area of Visakhapatnam district adjoining Odisha, and it would be more convenient for us to set up the refinery in AP. However, we have to take up the issue with the state government. We shall be doing so shortly."