15 DECEMBER 2015www.indiainfoline.com
Government allocates Pottangi mines to Nalco, shares gain over 1%
Edited by : AL CIRCLE
2 min read
Pottangi mines located in Odhisa has been allocated to state-run aluminium producer Nalco for manufacturing one MTPA alumina refinery by 2020. This was informed by Vishnu Deo Sai, Minister of State for Steel and Mines.
The alumina refinery (stream-5) will come up at Damanjodi, Koraput district in Odisha. The total cost of the refnery is estimated at Rs. 5,540 crore. The government of Odisha has taken an in-principle decision in this regard, informed the minister.
Regarding Utkal D & E coal blocks in Angul district of Odhisha, the minister stated in Parliament that Utkal D & E blocks has been awarded to NALCO and production from Utkal-D block is expected to commence in April, 2018 and production from Utkal-E block is expected to commence in April, 2019.
Shares of Nalco are currently trading 1.05% higher at Rs. 38.70 on BSE after the Ministry of Mines reserved bauxite mines for the company in Odisha.
The scrip opened lower at Rs. 38.10 as against its previous close of Rs. 38.30. It hit a high and a low of Rs. 40.60 and Rs. 38 respectively. So far, total 1.15 lk shares have changed hands on BSE.
The proposal of Nalco for setting up of 1 MTPA alunima refinery (stream-5) at Damanjodi (Koraput district in Odisha) at an estimated cost of Rs 5,540 crore was approved by Nalco Board on December 10, 2014. The schedule completion date in July 31, 2020.
The alumina refinery (stream-5) will come up at Damanjodi, Koraput district in Odisha. The total cost of the refnery is estimated at Rs. 5,540 crore. The government of Odisha has taken an in-principle decision in this regard, informed the minister.
Regarding Utkal D & E coal blocks in Angul district of Odhisha, the minister stated in Parliament that Utkal D & E blocks has been awarded to NALCO and production from Utkal-D block is expected to commence in April, 2018 and production from Utkal-E block is expected to commence in April, 2019.
Shares of Nalco are currently trading 1.05% higher at Rs. 38.70 on BSE after the Ministry of Mines reserved bauxite mines for the company in Odisha.
The scrip opened lower at Rs. 38.10 as against its previous close of Rs. 38.30. It hit a high and a low of Rs. 40.60 and Rs. 38 respectively. So far, total 1.15 lk shares have changed hands on BSE.
The proposal of Nalco for setting up of 1 MTPA alunima refinery (stream-5) at Damanjodi (Koraput district in Odisha) at an estimated cost of Rs 5,540 crore was approved by Nalco Board on December 10, 2014. The schedule completion date in July 31, 2020.
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