State-run aluminium maker Nalco will invest around Rs 30,000 crore by financial year 2027-28 on various expansion and diversification plans. Of this proposed investment, the company will spend over Rs 7,000 crore on a fifth refinery, development of Pottangi bauxite mines and transportation and Utkal D&E coal mines.
The remaining Rs 22,000 crore 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 1400 MW feeder CPP, the company said in a statement.
“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 and achieve Aatmanirbhar Bharat vision,” Union mines minister Pralhad Joshi said addressing Nalco’s 41st foundation day.
Joshi said the central government is extending all round support to the mineral rich state Odisha to avoid any interruption in the mineral production of the country. He said in view of the requests made from state government, the central government will amend concerned rules so that smooth production of minerals could be ensured and non-serious players barred from participating in mineral block auctions.
Nalco contributes to 32% bauxite, 33% alumina, 12% aluminium to the total domestic production. The company has its operations in the tribal dominated Koraput and Angul districts of Odisha.