National Aluminium Company (NALCO) will invest Rs 30,000 crore over the next five years to set up a new aluminium smelter and an associated coal-based power plant, Chairman and Managing Director Brijendra Pratap Singh announced on August 28.

Of this, about Rs 18,000 crore will be allocated for the proposed smelter in Odisha. The project will be financed through a combination of debt and internal accruals, ensuring financial balance. Another Rs 12,000 crore has been earmarked for a coalbased power plant, with NALCO currently in discussions with Coal India and NTPC to secure the partnership.

The initiative marks a significant step in NALCO’s long-term expansion strategy aimed at boosting production capacity and ensuring energy security. To further strengthen its operations, NALCO plans to acquire new bauxite and coal mines, thereby enhancing raw material security. The company is also exploring opportunities to bid for critical mineral mines in India, aligning with the government’s focus on resource security and industrial growth.