NTPC, NALCO form joint venture for aluminium plant, INR 36,000 crore

State-run generation utility NTPC and aluminium giant National Aluminium Co. Ltd ( NALCO) entered into an agreement to jointly  set up a 2.4 giga watt(GW)  power plant and one million tonne aluminium production facility in Odisha’s Dhenkanal district, Gajmara. The total investment estimated at INR 36,000 crore, the companies said in a statement. The proposed power plant comprises of three units of 800 MW each.

Nalco chairman and MD Tapan Kumar Chand said construction of the power plants and the aluminium production unit to complete in four years.

Power Minister Piyush Goyal informed that the generated power will be taken by the NALCO as a joint venture (JV) partner for the Brownfield expansion of its 5 lakh tonne Aluminium smelter at Angul and the Greenfield project of a 6 lakh tonne smelter at Kamakhya Nagar in Odisha. He explained in a situation of India being Coal surplus and power prices coming down, NTPC would be able to provide uninterrupted power supply to NALCO’s plants through this JV project

Goyal further stated:  “We have brought back Aluminium smelter plant to the people of Odisha, which was going to be established outside the country due to lack of cheap power in the country a couple of years back. This would not only give a boost employment generation in the region but also give a fillip to economy of the country as a whole.”

The joint venture strives to keep the cost of power generation to a minimum so as to benefit aluminium production, NTPC chairman and managing director Gurdeep Singh said.

According to Oil minister Dharmendra  Pradhan, the power plant at Dhenkanal and the increased Aluminium production at Angul and Kamakhya Nagar would fuel industrial growth in a sustainable manner and transform the face of the region in near future.

Copyright and Exemption Declaration :¢ÙAll articles, pictures and videos that are marked with "China Aluminum Network" on this website are copyright and belong to China Aluminium Network (www.alu.com.cn). When transshipment, any media, website or individual must list the source from "China Aluminium Network (www.alu.com.cn)". We seek legal actions against anyone that disobey this. ¢ÚArticles that marked as copy from others are for transferring more information to readers, do not represent or endorse their opinions or accuracy and reliability. When other media, website or individuals copy from our website, must keep the source. Anyone that changes the articles' sources will hold the responsibilities for copyright and law problems. We also seek legal actions against anyone that disobey this. ¢ÛIf any articles copied by our website concern the copyright and other problems, please contact us within one week.