Disclosing this at the 34th annual general body meeting of the company today NALCO CMD T K Chand said the value-chain has shifted in favour of minerals and we have plans to avail the opportunity of Government policies to enter into merchant mining.
Aiming to make Nalco a global player in mining, metal and energy sectors, its CMD T K Chand today said the company will focus on increasing production, expansion and modernisation of plants besides diversification of products.
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.
Chand said besides other projects, the company is pursuing to set up a alumina refinery in Gujarat with a capacity of 0.5 mtpa.
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 while addressing shareholders at the company’s Annual General Meeting here today.
Similarly, 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 jv-cum-share holder’s agreement was signed in June, this year.
Nalco has also revived the A memorandum of understanding (MoU) is an agreement between two (bilateral) or more (multilateral) parties. It expresses a convergence of will between the parties, indicating an intended common line of action. It is often used in cases where parties either do not imply a legal commitment or in situations where the parties cannot create a legally enforceable agreement... More with Indian Rare Earths Limited in July, 2014 for development of a 1 lakh tpa titanium slag project at Chhatrapur in Odisha in a jv mode. Pre-feasibility Report for this is being prepared, he said.
“Happy that Nalco has got the much-awaited allocation of Utkal D and E Blocks“, Chand said on the sidelines of the AGM adding that the company is looking forward for consent of Odisha government for allocation of Pottangi Mines in Koraput district so that Alumina Refinery Project of Rs 5,500 crore can immediately be started.
Further, Nalco in association with Odisha 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, Odisha. Some preliminary clearances have been obtained and Nalco has applied for single window clearance from Odisha government, the CMD 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 Odisha government, he said.
However, while awaiting clearance for the same, pre-project activities have been started considering sourcing of Bauxite from existing Panchpatmali deposits. Source—