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Aluminium|Coal|Financial|Power|PROJECT|Projects|Refinery
Aluminium|Coal|Financial|Power|PROJECT|Projects|Refinery
aluminium|coal|financial|power|project|projects|refinery

India’s Nalco lines up $6.33bn expansion projects

18th December 2018

By: Ajoy K Das

Creamer Media Correspondent

     

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KOLKATA (miningweekly.com) – Indian State-run National Aluminium Company (Nalco) has lined up $3.52-billion investments on brownfield expansion and another estimated $2.81-billion on greenfield projects over the next few years.

According to Nalco chairperson, T K Chand, the company is expecting to close the current financial year with total revenue of about $1.61-billion, registering a growth of 25% over previous financial year and a net profit estimate of $253-million, a growth of 35% which will add balance sheet muscle to undertake the brownfield and greenfield projects over the few years.

The brownfield expansion will include constructing a new one-million-ton-year alumina refinery, increasing smelting capacity by 500 000 t/y and two captive thermal power units of 660 MW each and all the projects scheduled to be completed by 2019/20, he said.

The brownfield expansion will increase Nalco’s aluminium production capacity from 440 000 t/y to one-million ton a year with projected total revenue earning at $2.53-billion.

As for greenfield project, the company is looking at constructing a new alumina refinery, smelter and captive thermal power plant at a new location to be decided once Nalco bids for new bauxite mine at the forthcoming auctions scheduled to be completed within the current financial year.

One of the biggest challenge facing the company is a shortage of thermal coal for its 10 x 1 200 MW captive power plant with Coal India Limited (CIL), accounting for over 80% of domestic coal supplies hamstrung in ramping up production and prioritising dry fuel supplies to power utilities facing fuel shortage.

Nalco, however, expects the situation to mitigate by 2019/20 by when it will be able to start production from Utkal D &E coal blocks allocated to it in 2016, which will yield assured supplies of two-million tons a year of coal for its captive power plant and reduce its dependency on CIL.

 

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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