National Aluminium Company, India's leading aluminium producing company, had announced on August 28, about it joining hands with Coal India, a state-owned company responsible for exploration, mining and supply of coal in India and National Thermal Power Corporation (NTPC), one of India's leading power generation company, for setting up the proposed INR 12,000 crore (USD 1.44 billion) power plant in Odisha, India. The announcement of the joint venture has led to a positive jump in NALCO's stock.
Recently, the aluminium producing company has unveiled its expansion plan to capitalise on the rising demand for aluminium and is focused on adding 1 million tonnes of alumina refinery by June 2026. Alongside this, the firm is also focused on developing a 0.5 million tonnes per annum smelter as well as a 1,080 MW captive power plant with investment of INR 17,163 crore (USD 2.06 billion) and INR 12,000 crore (USD 1.44 billion) respectively.
According to the firm's CMD Brijendra Pratap Singh, the coal-based power plant will be set up in Angul, Odisha, which further aims to reinforce the aluminium smelter unit. The project is currently under consultation and has been appointed to prepare the Detailed Project Report (DPR). Besides this, the CMD is also communicating with Coal India, NTPC and other relevant partners for a possible joint venture.
On August 25, 2025, NALCO's stock opened at INR 192.34 (USD 2.31) but witnessed a sharp decline on August 28, when the price fell to INR 184.46 (USD 2.21). However, on the following day, the stock price showed an upward movement, reaching INR 188.12 (USD 2.26). The stock price, this week, closed at INR 186.40 (USD 2.24). The sudden fall in the price but a slow and steady upward movement thereafter reflects the positive impact of the expansion projects and joining hands with Coal India and NTPC on the firm.
Apart from the joint venture with Coal India and NTPC, the company is also thriving through equity participation in lithium assets in Australia with the support of Khanij Bidesh India Ltd (KABIL), a joint venture of the leading public sector units. With the administration of the Ministry of Mines, NALCO, Mineral Exploration Corporation Ltd and Hindustan Copper Ltd formed KABIL in 2019.
With this initiative, the firm aims to identify, acquire and develop critical and strategic minerals including lithium, cobalt and other sources found overseas. NALCO already has the exploration rights in Argentina and had previously signed agreements with Australia to evaluate these projects together.
Also read: Nalco set to pioneer gallium production, the first in India
Note: To feature your brand and share insights, contribute an article or interview in our forthcoming e-magazine "Sustainability & Recycling: Aluminium's Dual Commitment"
Responses
