Nalco on expansion mode, spreads wings to Gujarat

It seems that Narendra Modi’s Gujarat will never be tired of its position as an investment hotspot as the western state, after attracting almost all the major public sector undertakings (PSU), is all set to get aluminium giant Nalco’s projects on it soil soon.

The Odisha-based National Aluminium company (Nalco) has already lined up two multi crore projects in Gujarat as part of its business expansion programme. While the Rs 4,500 crore aluminium refinery project is soon to get a green signal (a detailed project report is being prepared), work is on to construct two units (each capable of producing 700 MW) of the proposed nuclear power plant at a cost of Rs 11,500. The latter project, to be completed in collaboration with Nuclear Power Corporation of India (NPCI), is scheduled to be commissioned by December, 2015.

Explaining the decision to select Gujarat for its two important projects, Nalco chairman-cum-managing director (CMD) B L Bagra said the availability of land for the multi crore nuclear power project swayed the company in favour of Gujarat.

He was referring to the hassles that crop up while obtaining land in other states, including Nalco’s parent state Odisha where many of its major projects (notably two mega steel plants, including Posco) were languishing in uncertainty for years because of land related issues.

On the proposed aluminium refinery in Gujarat, Bagra said the PSU decided to set up the project after the Gujarat Mineral Development Corporation (GMDC) assured of providing raw materials for 25 years from the bauxite mines in Kutch region.

To expand its business, Nalco is also planning several other projects: A Rs 16,000 crore smelter plant in western Odisha, an aluminium refinery of 1.4 million tonne per annum capacity and a 50.4 MW wind power project in Andhra Pradesh. Bagra said the company is persuading the Odisha government to clear its proposals.