Thursday, March 30th, 2023 13:35:46

NALCO to float joint venture with NNPC to set up power plants

Updated: December 29, 2016 4:13 pm

National Aluminium Company (NALCO) has inked a Memorandum of Understanding (MoU) with NTPC, on December 16, 2016, for developing power projects and other business collaborations in India. Under the MoU, the companies will float a Joint Venture namely NTPC-NALCO Power Company (NNPC) to set up power plants. The first such power plant is planned at Gajamara, Odisha with a capacity of 2,400 MW (3X800 MW), at an estimated investment 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.

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