By Bizodisha Bureau, Bhubaneswar, December 16, 2016 : Power major, NTPC and the metal major, Ntational Aluminium Company Ltd [Nlaco] will float a 50:50 joint venture to set up a 2400 MW (3 X 800 MW ) coal based power project at Gajmara, Dhenkanal district at an estimated cost of Rs. 14,000 crore.

The proposed super critical power plant with state-of-the-art technology will supply uninterrupted power to NALCO’s Smelter at Angul. The process for acquisition of 1,600 acres of land in Gajamara has already commenced, a Nalco press release said.

Besides, it will supply power to the aluminium manufacturer’s proposed greenfield project at Kamakhyanagar in Odisha’s Dhenkanal. Coal from the mines allocated to Nalco shall be linked to the Joint Venture project at Gajmara.

Speaking on the occasion, Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal said that joint venture is a win-win situation between NALCO & NTPC two best performing CPSUs.

NALCO is planning a brownfield expansion at its Aluminium Smelter in Angul, with an additional capacity of 5 lakh tonnes per annum, at an estimated capital expenditure of Rs.10,000 crore. The company already has the required land and other infrastructure for the purpose.

The proposed expansion will help the Navratna CPSE to achieve economy of scale and substantially reduce its cost of production. This expansion will be taken up immediately by NALCO, incorporating latest technology ensuring reduced energy consumption and high productivity.

The Minister also mentioned that NALCO is also planning to set up a greenfield Aluminium Smelter project with a capacity of 6 lakh tonnes per annum in Kamakhyanagar, Odisha at an estimated investment of Rs.12,000 crore. The state-of-the-art plant is also proposed to be equipped with latest Smelting Technology.

The Joint Venture between NTPC and NALCO has potential to create value for both the companies’ which have public equity. The aluminium smelter projects and power project will act as catalyst for industrial growth in the region creating avenues of tangible and intangible benefits for the people of state and generate direct and indirect employment for engineers, supervisors, skilled, semi-skilled and un-skilled workers.