NALCO to invest Rs.5,000 crore at alumina refinery at Damanjodi

Odisha Channel Bureau Bhubaneswar: Strengthened by the allocation of Utkal D&E Coal Blocks by the Centre and recommendation of Pottangi bauxite mines by the State government in favour of NALCO, the Navratna PSU has announced the setting up of 5th stream of one million tonne alumina refining capacity, at an investment of Rs.5,600 crore, in the precincts of the existing refinery at Damanjodi in Koraput district of Odisha.This was informed by Balvinder Kumar, Secretary, Ministry of Mines, Government of India, when he called on Chief Minister Naveen Patnaik and State Chief Secretary Gokul Chandra Pati yesterday, accompanied by T.K.Chand, CMD, NALCO.According to an official release, in a high-level meeting, Balvinder Kumar appreciated state’s support to NALCO and further informed that concurrently NALCO would spend Rs.2,000 crore for developing the 200-million-tonne coal blocks recently allotted to the company in Angul district of Odisha, where NALCO’s smelter and power complex is located.Besides, the aluminium major is also closely associated with the State Government in setting up an Aluminium Park in Angul to attract downstream industries.“This is just a humble beginning in our roadmap for expansion and investment plans.Since our entire value chain is located in Odisha, we are committed to the people of the State.Besides, in the context of recently announced State Industrial Policy, it makes lots of business sense to invest in Odisha”, T.K.Chand said.“On the CSR front, we have already committed an additional Rs.300 crore in the tribal belt of Koraput as well as Angul”, Chand added.Patnaik appreciates ChandDuring the high-level meeting on Monday, in his opening remarks Patnaik appreciated Chand for his initiatives and commitments, within a short span of three months of assuming the new office.Patnaik also thanked Balvinder Kumar for clearing NALCO’s investment plans in the State.In turn, Pati and other senior officials of the State government have assured NALCO of all support in its operations and growth plans.