National Aluminium Company Limited (NALCO), the Navratna PSU, under Ministry of Mines, Govt of India, and NTPC Ltd., the Maharatna Power Producer have recently entered into an MoU, for developing power projects and other business collaborations in India. Under the MoU, the companies will float a Joint Venture namely NTPC-NALCO Power Company (NNPC) to set up power plants. The proposed super critical power plant with state-of-the-art technology will supply uninterrupted power to NALCO’s Smelter at Angul.
Speaking on the occasion, Minister Shri Piyush Goyal highlighted that joint venture is a win-win situation between NALCO & NTPC two best performing CPSUs. NALCO is planning a brownfield expansion at its Aluminium Smelter in Angul, with an additional capacity of 5 lakh tonnes per annum, at an estimated CAPEX of Rs.10,000 crore. The Minister also mentioned that NALCO is also planning to set up a greenfield Aluminium Smelter project with a capacity of 6 lakh tonnes per annum in Kamakhyanagar, Odisha at an estimated investment of Rs.12,000 crore.
Shri Dharmendra Pradhan in his address informed that it’s a dream come true for the people of Odisha as a power project at Gajamara, Smelter project at Kamakhyanagar, Brownfield expansion of smelter at Angul by NALCO and TTPS project by NTPC will all together bring an investment of 48,000 crore to Odisha which will greatly enhance the industrialisation, development and employment generation in Odisha.