State-owned National Aluminium Company (NALCO) will invest ₹30,000 crore over the next five years to build a new aluminium smelter and a coal-based power plant, Chairman and Managing Director Brijendra Pratap Singh announced on Thursday. Around ₹18,000 crore has been earmarked for the smelter, which is planned to be developed in Odisha. Singh, speaking at a press event in New Delhi, said the funding will come from a combination of borrowings and internal reserves.
The remaining ₹12,000 crore will go toward establishing a coal-fired power plant. NALCO is currently in discussions with Coal India and NTPC regarding this segment of the project. In addition to its existing bauxite mining and alumina refining operations in Odisha, the company is seeking to expand its mining footprint within India, particularly in coal and bauxite.
Mr Singh also noted that NALCO is evaluating lithium mining opportunities in Argentina, where it is conducting feasibility studies at five sites. Lithium is a critical raw material for battery manufacturing, especially for electric vehicles.
Through its joint venture, Khanij Bidesh India Limited (KABIL) — formed alongside Hindustan Copper and Mineral Exploration and Consultancy Limited — NALCO is also exploring equity investments in lithium projects in Australia. India continues to seek international partnerships to secure long-term access to lithium resources.
National Aluminium Company Limited (NALCO) is a Navratna Central Public Sector Enterprise under the Ministry of Mines, Government of India, and one of the largest integrated aluminium producers in Asia. Established in 1981, the company operates across the entire value chain of aluminium production, from bauxite mining and alumina refining to aluminium smelting, power generation, and downstream products.
With its headquarters in Bhubaneswar, Odisha, NALCO is recognized for its energy-efficient operations, high-quality products, and strong global presence, exporting alumina and aluminium to more than 20 countries. The company also emphasizes sustainability and social responsibility, undertaking initiatives in renewable energy, afforestation, education, healthcare, and rural development as part of its commitment to inclusive growth.
