National Aluminium Company Ltd. (Nalco) has planned to invest INR 45,000 crore in brownfield and greenfield project expansion in the next few years, its Chairman and Managing Director Dr. Tapan Kumar Chand said.
Nalco will invest around INR25,000 crore in brownfield expansions, which include additional one million tonne alumina refinery capacity, increasing of the smelter’s capacity by five lakh tonnes at Angul and boosting of captive power plants by addition of two units of 660 MW each.
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The second phase of greenfield expansions will take up INR 20,000 crore in another smelter and captive power plants. The projects are likely to be completed between 2019 and 2021.
These expansions are expected to take its aluminium production from existing 4.4 lakh tonnes to one million tonnes and also help it to register revenue of INR 18,000 crore.
“Opening of the new coal block by middle of next year and producing about two million tonnes of coal annually, instead of buying it from Coal India, will translate into savings of INR 560 crore. Moreover, a new alumina refinery with additional one million tonne capacity, which will be commissioned in 2021, will also add a net profit of INR 350 crore. We are also putting two wire rod mills which will add INR 120 crore to the profit in future,” Chand told IANS.
“We are also looking to add high-end aluminium products in our portfolio which will give us better realisation. NALCO has signed a MoU with Mishra Dhatu Nigam Ltd. for establishment of a plant for making metal for defence, aerospace, automobile sectors,” Chand added.
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