State-owned National Aluminium Company Limited (NALCO) has firmly denied reports suggesting a delay in its Rs. 30,000 crore capital expenditure plan for smelter expansion with captive power facilities. The company clarified on Thursday that the project is progressing as scheduled, and discussions with technology partners, including Rio Tinto Aluminium Limited (RTAL), are actively underway.
Responding to a media report alleging that the capex plan was deferred due to stalled talks with RTAL Canada, NALCO stated in a regulatory filing that such claims are inaccurate. The company added that the detailed project report (DPR) for its brownfield smelter expansion, including associated infrastructure such as a captive power plant with renewable energy components, is currently being updated to reflect evolving business requirements.
While acknowledging ongoing evaluations of different power configurations, including renewable energy, NALCO said any potential joint venture with suitable partners would only be finalized after the DPR is completed. The company emphasized that it is premature to disclose specifics of the ongoing discussions.
In financial performance, NALCO reported a consolidated net profit of Rs. 2,067.23 crore for the March quarter of FY2024–25, marking a twofold increase from Rs. 996.74 crore in the corresponding period last year. The company’s revenue from operations also rose significantly to Rs. 5,267.83 crore from Rs. 3,579.05 crore a year earlier.
NALCO
National Aluminium Company Limited (NALCO) is a Navratna CPSE under the Ministry of Mines and one of the largest integrated bauxite–alumina–aluminium–power complexes in India. Headquartered in Bhubaneswar, Odisha, NALCO plays a key role in the nation’s aluminium production and exports, while promoting sustainable mining and industrial practices.
