 "Govt allots Utkal-D & E coal blocks to NALCO")
State-owned National Aluminium Co today said that the ministry of coal has allotted Utkal -D & E coal mines located in Odisha in favour of the company for it to be able to meet its captive requirements at the Angul district.
The aluminium producer runs a 4.6 lakh tonne smelter and 1,200 MW captive power plant in the state, the company said in an exchange notification.
"The company's smooth operations and expansion plans hinged on the allocation of these blocks," The notification quoted T K Chand chairman and managing director at NALCO as saying.
"With this, NALCO's captive resources add 200 million tonne coal, which will see the company through the next three decades and more," said Chand.
The Utkal-E coal block was allotted to NALCO in 2004. Upon allotment, the company had spent Rs 126.34 crore for development at the block which also included Rs 98 crore towards compensation against land acquisition.
However, following the apex court's order to de-allocate 204 coal blocks, the Utkal-E was de-allocated and since then the company has been pursuing the government for re-allocation as the end-use investment had already been made.
Shares of NALCO were trading 1.36% up at Rs 37.40 per share on the BSE.