National Aluminium Company Limited (NALCO), a 'Navratna' company under the Schedule 'A' category of CPSEs, announced on Thursday, June 5, that its INR 30,000-crore capital expenditure plan for smelter expansion with captive power is still on track. This announcement was made to clarify the previous announcement that NALCO would delay the project by approximately a year.
The company stated that the detailed project report (DPR) for the brownfield smelter expansion and related facilities, such as the captive power plant integrated with renewable energy, is being updated to reflect the latest business needs. NALCO stated that discussions with technology partners like Rio Tinto Aluminium (RTAL) are on track and not delayed.
"The Nalco management refutes the report. It added that discussions with technology partners are ongoing. Discussion with technology partners, including RTAL, is being actively pursued and is on track. It is premature to disclose any details on the discussion at this stage," said NALCO.
The company also stated that it is assessing multiple power supply options, including renewable energy sources. It emphasised that any joint venture (JV) partnerships will be finalised only after the completion of the DPR.
This update reassures stakeholders of NALCO's continued commitment to its expansion plans, vital for boosting production capacity and sustaining its competitive position in the global aluminium market.
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