New Delhi: The National Aluminium Company Limited (NALCO) has signed a Modified Escrow Agreement for its Utkal D and Utkal E Coal Mines in Angul, Odisha. The agreement was signed on September 29, 2026, at the Office of the Coal Controller in New Delhi.
The agreement formalises the requirement for NALCO to deposit the Annual Mine Closure Cost into the Escrow Account every year, supporting the company’s focus on sustainable and responsible mining practices.
Modified Escrow Agreement Signed for NALCO Coal Mines
The agreement was signed at the Office of the Coal Controller, New Delhi, in the presence of officials concerned.
On behalf of NALCO, Pranab Kumar Das, Executive Director (S&P), signed the Modified Escrow Agreement.
Key details include:
- Company: National Aluminium Company Limited (NALCO)
- Coal mines: Utkal D and Utkal E
- Location: Angul, Odisha
- Agreement: Modified Escrow Agreement
- Date of signing: September 29, 2026
- Place: Office of the Coal Controller, New Delhi
- NALCO signatory: Pranab Kumar Das, Executive Director (S&P)
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Annual Mine Closure Cost to Be Deposited in Escrow Account
The Modified Escrow Agreement formalises the requirement for the annual deposit of the Mine Closure Cost into the designated Escrow Account.
Under the arrangement, the required amount will be deposited every year, creating a financial mechanism to support mine closure-related obligations.
The provision is linked to responsible management of mining operations and planning for activities associated with mine closure.
Agreement Marks Step Towards Sustainable Mining
NALCO described the signing of the Modified Escrow Agreement as an important milestone in its sustainable mining efforts.
The annual escrow mechanism provides a structured approach towards meeting financial obligations associated with mine closure and supports the company’s broader approach to responsible mining practices.
The agreement covers NALCO’s Utkal D and Utkal E coal mines located in Angul, Odisha.
NALCO’s Coal Mining Operations in Odisha
NALCO operates its captive coal mines in Odisha to support its aluminium production operations. The Utkal D and Utkal E mines form part of the company’s coal mining activities and contribute to securing fuel requirements for its operations.
The Modified Escrow Agreement strengthens the financial framework associated with the eventual closure and rehabilitation obligations of these mining assets.
About National Aluminium Company Limited (NALCO)
National Aluminium Company Limited (NALCO) is a Navratna Central Public Sector Enterprise under the Ministry of Mines, Government of India. The company is engaged in the mining of bauxite and production of alumina and aluminium, with integrated operations covering mining, refining and aluminium production.
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