National Aluminium Company Ltd (NALCO), a Navratna PSU, on Tuesday said that it has bagged Utkal D and Utkal E coal blocks in Odisha's Angul district, where the company's 4.6 lakh tonne aluminium smelter and 1,200 MW captive power plant are located.
"The company's smooth operation and expansion plans hinged on the allocation of these blocks," NALCO CMD T.K. Chand said in a statement.
"With this, NALCO's captive resources add 200 million tonnes of coal, which will see the company through the next three decades and more," he added.
Utkal E coal block was allotted to NALCO by the union government in 2004 and the company spent Rs.126.34 crore on it, including Rs.98 crore towards compensation against land acquisition, said the release.
The company had also spent considerably on infrastructural facilities and various CSR activities in the area. However, the block's cancellation following Supreme Court's order came as a setback to the company.
NALCO was pursuing with government the re-allocation of coal block under the allocation route, as the end-use investment had already been made, and finally succeeded.
Chand thanked the mines and coal ministries for allocating the mines that will enable the company to meet its expansion plans.
