NALCO rides high on nod for expansion plan
Rohan Takalkar / 20 Apr 2017
According to a leading business daily National Aluminium Company (NALCO) has received green nod for expansion of alumina refinery complex in Koratpur district. The estimated cost of proposed expansion project is Rs 4357 crore with anticipated capital expenditure of pollution control measure of Rs 235 crore.
According to a leading business daily National Aluminium Company (NALCO) has received green nod for expansion of alumina refinery complex in Koratpur district. The estimated cost of proposed expansion project is Rs 4357 crore with anticipated capital expenditure of pollution control measure of Rs 235 crore.
The project requires 25.09 hectares of land, which the company already has under its possession. Bauxite, the ore required for the plant will be sourced from their own Panchamali mines.
The proposal is to set up fifth stream with capacity of 1 million tonnes per annum (MTPA) as well as set up steam-cum-go generation power plant (SPP) of 18.5 MW capacity.
With the expansion, NALCO’s alumina production capacity will increase from 2.27 MTPA to 3.27 MTPA, while SPP capacity will expand from 92.5MW to 111 MW. NALCO currently sells a part of aluminum in India, and exports partly. It exported 1.22 million tonnes of alumina during FY16.
Further government is diluting its 10 per cent stake worth Rs 1300 crore via offer to sale with floor price of Rs 67, closing today.
The stock today opened at Rs 66.8, and is trading up by 1.11 per cent at 11:37 hours.
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