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The project is being taken up as a backward integration initiative of Nalco.
The caustic soda plant would have a capacity of 270,000 tonne per annum whereas the CPP’s generation capacity is pegged at 100 Mw. The project is estimated to cost Rs 1,789 crore. Nalco would have 40 per cent stake in the project with the balance equity held by GACL.
The JV agreement was signed last Tuesday by N R Mohanty, chairman cum managing director, Nalco and A M Tiwari, managing director, GACL. Senior officials of Nalco and GACL were present on the occasion.
Nalco achieved its highest ever gross turnover of Rs 7,771 crore in last fiscal, 10.63 per cent higher than Rs 7,024 crore recorded in 2013-14. Nalco’s previous best turnover was Rs 7,247 crore which it achieved in 2012-13. It also logged an export turnover of Rs 3,307 crore in 2014-15.
In the renewable energy space, Nalco generated 175 million units (MU) of wind energy during FY 15 by operation of a 50.4 Mw wind power plant at Gandikota, Andhra Pradesh and another 47.6 Mw plant at Jaisalmer (Rajasthan).
During 2014-15, the company commissioned 260 KWp Rooftop Solar Power System at its corporate office and township in Bhubaneswar, of which167 kilo unit solar energy has been generated.
On the investment front, Nalco has decided to set up a one million tonne alumina refinery at Damanjodi, Koraput at a proposed investment of Rs 5,540 crore. The refinery will run on bauxite sourced from Pottangi mine.
With a view to boost the ancillary and downstream industries, Nalco has also committed to supply 50,000 tonne of aluminium metal to ‘Angul Aluminium Park’, which has been formed as a joint venture between Nalco and Odisha Industrial Infrastructure Development Corporation (Idco). The company is also in an advanced stage of setting up 100 Mw wind power plant at a suitable location with an estimated investment of Rs 660 crore.
