
National Aluminium Company will reportedly invest INR 17,000 crore to enhance its production capacity. Nearly half of the proposed investment will be made in association with joint venture partners.

The state-run aluminium maker will invest around INR 6,000 crore on its own for establishing some downstream projects at Kamakhyanagar in Dhenkanal district of Odisha, while some INR 5,540 crore for setting up a new alumina refinery stream that is likely to be commission in 2021-22. As per the report, the company has already found the land for its downstream projects and hope to start them within three years of receipt of all statutory clearances.
Besides, Nalco will set up a high-end aluminium alloy plant with INR 4,450 crore of investment through joint venture partner Mishra Dhatu Nigam (MIDHANI). The Andhra Pradesh government has already allotted 120 acres for the project.
“With Niti Aayog already giving clearance for the project in March 2019, the financial closure plan of the project is being worked out, and is being finalised between both the organisations before taking to the Board for approval of the JV,” the source said.
Nalco is also setting up a caustic soda plant in Gujarat with an investment of INR 2,000 crore in association with Gujarat Alkalies and Chemicals (GACL).
In 2018-19, Nalco’s net profit had clocked at INR 1,732 crore, up 29 per cent from the previous fiscal. Its INR 11,386 crore turnover in FY2019 was the highest-ever.
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