The National Thermal Power Corporation Limited (NTPC) and the National Aluminium Company Limited (Nalco) signed a memorandum of understanding (MoU) in New Delhi on Friday to set up a joint venture (JV) company for power generation in the country, especially in Odisha.
The JV company would establish a 2,400 MW (3x 800 MW ) coal-based power project at Gajmara, Dhenkanal and supply captive power for expansion plans of Nalco at Angul and also Greenfield project at Kamakhyanagar in Dhenkanal district.
Speaking on the occasion, Minister of State for Power, Coal, NRE and Mines Piyush Goyal said in coming days the demand for aluminium would increase in the rapidly growing Indian economy. The projects led by swadeshi companies would take forward the Make in India initiative bringing jobs and opportunities for the people of Odisha. He appreciated the turnaround capability of the NTPC by running nearly 50-year-old Talcher Thermal Power Station at more than 90 per cent PLF.
Union Minister of Petroleum and Natural Gas Dharmendra Pradhan said the mineral rich Odisha is now getting its due with many new industries being set up in the State. He said this JV of Nalco and NTPC is ideal tie up two respected companies and advocated setting up of more industries bringing state- of- the art technologies to Odisha. The MoU was signed by Nalco Director (HR), BK Thakur and NTPC Director (Finance) K Biswal.
Among others, Minister of Steel and Mines, Government of Odisha Prafulla Mallick, NTPC CMD Gurdeep Singh, Nalco CMD Tapan Kumar Chand were present.