National Aluminium Company (Nalco) has planned to invest about Rs 300 billion over the next five years to set up a new aluminium smelter and an associated coal-based power plant.
Of this, around Rs 170–180 billion has been earmarked for the proposed smelter in Odisha, while Rs 120 billion will be used for the power project. The investment will be financed through a mix of debt and internal accruals. Nalco is targeting commissioning of the new smelter by 2030 as part of its strategy to achieve Maharatna status.