Post News Network
Bhubaneswar, Sept 26: Under its new chairman, aluminium major National Aluminium Company Ltd (NALCO) has set its eye on becoming a global player in the mining, metal and energy space in coming years. As part of this ambitious plan, the company will focus on increasing production through expansion and modernization along with diversification, company’s CMD, TK Chand said.
“Towards this realisation, the company has plans to increase the existing metal production, alumina production and raise bauxites and coal output,” Chand said addressing shareholders at the company’s Annual General Meeting here Saturday.
Referring to new projects, the CMD said Nalco is now looking beyond its existing operations with a view to achieve a new level of corporate distinction. The company is pursuing to set up an alumina refinery in Gujarat with a capacity of 0.5 mtpa, he added. “Detailed Project Report (DPR) for the refinery has been prepared and the company is in discussion with GMDC for availability of bauxite for the project,” he said.
As part of its diversification drive, the company has formed a joint venture with Nuclear Power Corporation of India Ltd, namely ‘NPCIL- Nalco Power Company Ltd’ (NNPCL) for establishment of Kakrapar Atomic Power Station (KAPS) 3&4, he said. Chand added that Nalco also plans to set up a 2.7 lakh TPA caustic soda plant along with a 100 mw captive power plant at Dahej in Gujarat at an estimated investment of Rs 1,789 crore in joint venture with Gujarat Alkalies and Chemicals, for which a joint venture-cum-share holder’s agreement was signed in June, this year.
“Nalco has also revived the MoU with Indian Rare Earths Limited in July, 2014 for development of 1 lakh tonne per annum titanium slag project at Chhatrapur in Orissa. “Pre-feasibility report for this is being prepared,” he said.
On recent coal block allocation, Chand said, “Happy that Nalco has got the much-awaited allocation of Utkal D and E Blocks.” “The company is looking forward for consent of Orissa government for allocation of Pottangi mines in Koraput district so that alumina refinery project of Rs 5,500 crore can immediately be started,” he added. Further, Nalco in association with Orissa government is planning to set up an aluminium park in Angul District of the state for downstream units.
“A smelter and power complex at a cost of Rs 22,000 crore have been envisaged to come up at Sundargarh, Orissa. Some preliminary clearances have been obtained and Nalco has applied for single window clearance from the state government,” the CMD said.
On its overseas expansion, chairman of the Navaratna firm said, “Nalco is exploring the opportunity to set up a greenfield aluminium smelter in a country where energy would be available at a competitive price. Based on a study carried out by consultants two countries have been identified to pursue further,” Chand said. The company also plans to set up of 5th stream of 1 mtpa capacity in existing alumina refinery at Damanjodi at an estimated investment of Rs 5,540 crore. The project is envisaged with medium pressure digestion technology. Sourcing of the bauxite is planned from Pottangi Mines, for which matter is being pursued with Orissa government, he said. However, while awaiting clearance for the same, pre-project activities have been started considering sourcing of bauxite from existing Panchpatmali deposits.