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National Aluminium Company (NALCO), a Navratna Public Sector Undertaking (PSU), has lined up Rs 7,500 crore for its 3rd phase brownfield expansion at its existing facilities in Odisha.
“The company has proposed a 500 Mw power plant at its captive power plant (CPP) to meet additional power requirement with an investment of Rs 2,522 crore,” BL Bagra, chairman cum managing director (CMD), Nalco told shareholders at the company’s AGM here on Tuesday.
He said, the company plans to add one more stream to its alumina refinery at Damanjodi with an investment of Rs 4,000 crore.
The expansion plan also includes upgradation of pot amperage from 180 KA to 220 KA for enhancing pot productivity at an outlay of Rs 900 crore. Consequently, the capacity of company’s smelter plant at Angul will go up by 1.07 lakh tpa (tonne per annum) to 5.67 lakh tpa.
Similarly, upgradation of 4th Stream of alumina refinery, taking its capacity from 2.1 million to 2.27 million tpa and that of Bauxite Mines from 6.3 million to 6.8 million tpa, at an estimated project cost of Rs 409 crore is in progress. The project is scheduled to be commissioned in the current year.
Bagra said, the development of Utkal-E Coal Block, allotted to the company, has been taken up an estimated cost of Rs 338 crore. It has a mineable reserve of around 67.49 million tonnes.
In line with its Vision 2020 document, Bagra today listed out a host investment plans of the company. These included proposal to set up a Rs 4,500 crore alumina refinery in Gujarat with 10 lakh MT capacity, Rs 16,000 crore new smelter in Western Odisha, and a 1.4 MTPA alumina refinery in Andhra Pradesh.
Making a foray into power production, the company has formed a JV with Nuclear Power Corporation of India to set up 1,400 Mw plant at Kakrapar at a cost of Rs 11,500 crore and set up a Rs 274 crore Wind Power Project in Andhra Pradesh with a capacity of 50.4 MW.
On financial front, Nalco has reported a net profit of Rs 850 crore in 2011-12 which is 21 percent down from Rs 1,069 crore reported in the previous year. Bagra attributed this dip to the rising cost of fuel (both coal and oil) and increase in the cost of raw materials.