NALCO lines up 3 projects, invests Rs 25,000 crore
Upbeat over a 94 per cent jump in net profit, National Aluminium Company Limited (NALCO), has lined up projects with an investment of about Rs 25,000 crore, three of which will be inaugurated on Friday.
The aluminium major will dedicate three major projects readied at a total cost of about Rs 660 crore, to the nation, during its upcoming foundation day celebrations, CMD of the Navaratna company, T K Chand told reporters.
Union Minister for Mines Narendra Singh Tomar and Union Petroleum Minister Dharmendra Pradhan would inaugurate the South Block Bauxite mines, Panchpatmalli, 18.5 MW power unit at alumina refinery, Damanjodi and “first of its kind” Nanotechnology-based defluoridation plant at Angul on January 5, he said.
While Panchpatmalli south block bauxite mines with a project cost of Rs 600 crore has a capacity of 3.15 million tonnes per year, the power unit readied at a cost of Rs 43 crore would reduce dependence on grid besides augmenting generation capacity, the CMD said.
Describing the Nanotechnology-based defluoridation plant built at a cost of Rs 16.69 crore as unique, he said it makes NALCO the first company to adopt and commercialise the Emrion technology, globally and plans to extend use of the technology in various drinking water projects in fluoride endemic areas.
Stating that NALCO was working on a new business model to expand its aluminium, alumina and power capacities, Chand said the alumina refinery at Damanjodi is all set to go for an expansion with an investment of over Rs 5,540 crore.