NALCO Shares in Focus on JV with NLC India for 1,080 MW Thermal Plant in Odisha

NALCO shares in focus on JV with NLC India for 1,080 MW thermal plant in Odisha

National Aluminium Company and NLC India have signed an agreement for a joint venture. This new entity will establish a 1,080 MW captive thermal power plant in Odisha. The plant will supply electricity for NALCO's aluminium smelter expansion project. Partners will also explore renewable energy sourcing and long-term coal supply. Both government-owned companies will hold equal stakes in the proposed joint venture.

NALCO & NLC India Sign JV Agreement For 1,080 MW Captive Power Plant In Odisha

New Delhi/Bhubaneswar: National Aluminium Company Limited (NALCO) and NLC India Ltd (NLCIL) on Wednesday signed a Joint Venture-cum-Shareholders’ Agreement (JVA) for the formation of a 50:50 Joint Venture Company (JVC) to develop a 4×270 MW (1,080 MW) Thermal Captive Power Plant (CPP) at Anugola in Odisha. The agreement was executed in the presence of G Kishan Reddy, Union Minister of Coal and Mines in New Delhi. Sanoj Kumar Jha, Additional Secr…