Business EconomyPosted at: Nov 4 2026 9:19PM


NALCO signs technology agreement with EGA for Rs.30,000-Crore smelter expansion project at Anugul

Bhubaneswar, Nov 4 (UNI) In a major boost to Odisha’s industrial growth and India’s aluminium production capacity, National Aluminium Company Limited (NALCO), a Navratna Central Public Sector Enterprise under the Ministry of Mines, Government of India, has entered into an agreement with Emirates Global Aluminium (EGA) for licensing its proprietary aluminium smelting technology for the proposed expansion of its smelter plant at Anugul.
The ambitious project, involving an approved investment of approximately Rs.30,000 crore, is expected to significantly strengthen NALCO’s aluminium production capabilities and reinforce India’s position in the global aluminium industry.
The proposed 0.5 million tonnes per annum (MTPA) smelter expansion will increase NALCO’s existing aluminium production capacity from 0.46 MTPA to approximately 1 million tonnes per annum, nearly doubling its current capacity. The project is targeted for commissioning during 2030-31.
With key statutory approvals, strategic partnerships and enabling initiatives in place, NALCO is moving ahead with preparations for the implementation of the mega industrial project.
As part of the preparatory measures, a meeting of the Rehabilitation and Peripheral Development Advisory Committee (RPDAC) was recently convened to facilitate the acquisition of the land required for the proposed expansion project at Anugul.
The meeting focused on expediting land acquisition, compensation and rehabilitation-related matters to ensure the smooth implementation of the project.
The proposed smelter expansion will require an additional 1,100 MW of power. To meet this substantial energy requirement, NALCO has partnered with NLC India Limited to establish a 50:50 Joint Venture Company for setting up a captive thermal power plant with a proposed capacity of 4 × 270 MW, or 1,080 MW.
In line with its commitment to sustainability and cleaner energy, NALCO is also exploring the integration of 200-250 MW of renewable energy into the project's overall energy ecosystem.
NALCO's expansion initiatives, including the proposed 5th Stream Alumina Refinery Project at Damanjodi and the Smelter Expansion Project at Anugul, are being pursued with the support of the Government of Odisha and the Ministry of Mines, Government of India.
These major investments are expected to enhance industrial production, generate direct and indirect employment opportunities, strengthen infrastructure and accelerate economic development in the region.
The projects are also expected to create new opportunities for skill development and promote downstream aluminium industries, ancillary units and other supporting businesses in Odisha.
Significantly, the commissioning of NALCO's ongoing 5th Stream Alumina Refinery is expected to generate surplus alumina even after meeting the increased requirements of the proposed Anugul smelter expansion.
While the surplus alumina will initially be directed towards export markets, NALCO is simultaneously exploring suitable locations across the country for establishing additional greenfield aluminium projects as part of its long-term growth strategy.
In this connection, the company is further evaluating the possibility of setting up another 0.5 MTPA greenfield aluminium smelter in India. The proposed facility would enable NALCO to convert surplus alumina into finished aluminium domestically, thereby increasing value addition within the country.
The initiative is aimed at strengthening domestic aluminium production, reducing dependence on external sources and enhancing India's competitiveness in the global aluminium market.
The proposed expansion and future investment plans underline NALCO's commitment to the Government of India's flagship initiatives, including 'Make in India' and 'Atmanirbhar Bharat', while positioning the company for sustained growth in the years ahead.
UNI DP
Tags: #NALCO signs technology agreement with EGA for Rs.30#000-Crore smelter expansion project at Anugul
More News

NALCO signs technology agreement with EGA for Rs 30,000-Crore smelter expansion project at Anugul

04 Nov 2026 | 9:19 PM

Bhubaneswar, Nov 4 (UNI) In a major boost to Odisha’s industrial growth and India’s aluminium production capacity, National Aluminium Company Limited (NALCO), a Navratna Central Public Sector Enterprise under the Ministry of Mines, Government of India, has entered into an agreement with Emirates Global Aluminium (EGA) for licensing its proprietary aluminium smelting technology for the proposed expansion of its smelter plant at Anugul.

see more..

Apollo Hospitals Q2FY27 net profit rises 32 pc to Rs 630 crore

04 Nov 2026 | 9:10 PM

Hyderabad, Nov 4 (UNI) Apollo Hospitals Enterprise Limited on Wednesday reported a 32 per cent year-on-year growth in consolidated net profit to Rs 630 crore for the second quarter of FY27, compared to the corresponding period last year.

see more..

ISB study warns proposed UPI charges may push street vendors back to cash

04 Nov 2026 | 8:59 PM

Hyderabad, Nov 4 (UNI) A study by the Indian School of Business (ISB) has found that 45 to 53 per cent of surveyed street vendors across different city tiers may reduce their acceptance of Unified Payments Interface (UPI) payments if the proposed Merchant Discount Rate (MDR) charges are implemented.

see more..

Aurobindo Pharma Q2 net profit rises 32 5 pc to Rs 1,124 crore

04 Nov 2026 | 8:29 PM

Hyderabad, Nov 4 (UNI) Aurobindo Pharma Limited on Wednesday reported a 32.5 per cent year-on-year increase in consolidated net profit to Rs 1,124 crore for the second quarter ended September 30, 2026, compared to Rs 848 crore in the corresponding quarter last fiscal.

see more..

Stock markets extend winning streak to fifth consecutive session

04 Nov 2026 | 6:49 PM

New Delhi, Nov 4 (UNI)Indian stock markets on Wednesday extended winning streak to a fifth consecutive session. Markets was supported by a sustained decline in crude oil prices, renewed foreign fund inflows and strong domestic earnings.

see more..