Utkal coal block lease enhances NALCO's fuel security
National Aluminium Company (NALCO) has signed a mining lease deed for the amalgamated Utkal-D and Utkal-E coal blocks in Angul district, Odisha. The announcement was made in an exchange filing after trading hours on December 24, 2024.
As one of Asia's largest integrated primary aluminium producers, NALCO's presence encompasses the entire value chain from bauxite mining, alumina refining, aluminium smelting, and power generation to downstream products.
The lease agreement will enable NALCO to enhance its coal production capacity to 4.0 MTPA, significantly strengthening fuel security for its captive power plant. The lease will remain valid until April 21, 2051.
For the first time in its 41-year history, NALCO smelter achieved the remarkable milestone of operating all 960 pots at full capacity during FY 2021-22, producing an impressive 0.46 million tonnes of aluminium metal. This stellar performance continued into FY 2022-23, maintaining full capacity operations with an identical output of 0.46 million tonnes.
Building on this operational excellence, NALCO reported a robust net profit of INR 2,060 crore in FY 2023-24, marking an impressive 33 per cent year-on-year growth.
Image credit: Nalco (Instagram publication)
Information credit: Business Standard; NALCO website
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