NTPC Ltd and National Aluminium Company (Nalco) have jointly agreed to set up a coal-based power project of 2400 Mw capacity in Odisha’s Gajamara in Dhenkanal district.
Both NTPC and Nalco signed a memorandum of understanding (MoU) today in New Delhi in the presence of Union minister for coal, mines & renewable energy Piyush Goyal, Union minister of state for petroleum & natural gas Dharmendra Pradhan, Nalco’s chairman and managing director (CMD) T K Chand, NTPC CMD Gurmeet Singh and other officials.
The joint venture (JV) company formed by NTPC and Nalco would develop the coal-baed power plant and also feed power to Nalco’s aluminium smelter which is set to undergo a capacity expansion.
“In the coming days, the demand for aluminium shall increase manifold in the rapidly growing Indian economy the projects led by domestic companies shall take forward the Make in India initiative, bringing jobs and opportunities for the people of Odisha”, said Goyal.
He appreciated the turnaround capability of NTPC by running the nearly 50 year old Talcher Thermal Power Station at more than 90 per cent PLF (Plant Load Factor).
Oil minister Pradhan said, “The mineral rich state of Odisha is now getting its due with many new industries being set up in the state. This JV of Nalco and NTPC is the ideal tie-up of two respected companies. More industries should bring in state of the art technologies to Odisha.”
The power purchase agreement (PPA) for the power project is expected to be firmed up by the end of this fiscal. Coal from the mines allocated to Nalco would be linked to the JV project at Gajmara. The aluminium smelter projects and the power project will act as catalyst for industrial growth in the region creating avenues of tangible and intangible benefits for the people of the state and generate direct and indirect employment for engineers, supervisors, skilled, semi-skilled and un-skilled workers.
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