National Aluminium Company Limited (NALCO) is a Navratna Central Public Sector Enterprise (CPSE) under Ministry of Mines, Government of India. The Company is a Group A' CPSE, having integrated and div
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ersified operations in mining, metal and power. Presently, Government of India holds 51.50% stake in NALCO. The Company is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the Country. The Company has a 68.25 lakh TPA Bauxite Mine & 21 lakh TPA (normative capacity) Alumina Refinery located at Damanjodi in Koraput district of Odisha, and 4.60 lakh TPA Aluminium Smelter & 1200 MW Captive Power Plant located at Angul, Odisha. NALCO has bulk shipment facilities at Vizag port for export of Alumina/Aluminium and import of caustic soda and also utilizes the facilities at Kolkata and Paradeep Ports. The Company has registered sales offices in Delhi, Kolkata, Mumbai, Chennai and Bangalore and 9 operating stockyards at various locations in the country to facilitate domestic marketing.
NALCO was incorporated on 7th January, 1981. At Panchpatmali Hills of Koraput Dist. in Orissa, the Company started its Bauxite Mines during November, 1985. After a year, during September of the year 1986, in the picturesque valley of Damanjodi in Koraput Dist, it formed the Alumina Refinery. Aluminium Smelter of the company at Angul in Orissa was came to existence since early 1987. The Company had commenced the Alumina export and Aluminium export in January and September respectively during the year 1988. NALCO signed a Project Co-operation Agreement with Hydro Aluminium AG, Norway in the year 1993 to carry out a joint study for feasibility of setting up a 100% export oriented aluminium plant of 0.9 million tonnes per annum capacity. In the year 1994, the Company made collaboration with various government agencies with aim of set up the facilities for extraction of gallium metal with an annual capacity of 950 kg at Damanjodi unit. During the year 1995, Smelter plant at Angul was undertaken with a capacity of 26000 TPY of strip casting facility, a special Alumina plant at Damanjodi was undertaken with a capacity of 20,000 TPY, a 10,000 TPY detergent grade Zeolite (Zeolite-A) plant at Damanjodi was undertaken and a 1000 Kg. per annum 5 N purity Gallium plant at Damanjodi based on indigenous technology was undertaken. The Company had explored the possibility of diversification during the year 1996 in terms of little other value added products such as special grade, alumina, Zeolite and aluminium cast wheel etc. in the year 1997, NALCO made a technical collaboration with Aluminum Pechiney (AP), France, the largest integrated aluminium company in Asia and also in the same year, the company had opened a stockyard at Bhiwandi in Thane district.
NALCO bagged the top export award of Chemical and Allied Products Export Promotion Council (Capexil) for the year 1997-98. The Company established new records in bauxite mining, alumina production and exports during the year 1999. NALCO made its footprint in detergent business also in the year 2001. NALCO received the Niryat Shree award for two straight years, 2000-01 and 2001-02 from the Federation of Indian Export Organisation (FIEO) for excellence in exports. Alumina Refinery of the company was expanded to 15,75,000 TPA and dedicated to the Nation State Pollution in the year 2002. During the year 2003, the company had commissioned one unit of Captive Power Plant with a capacity of 120 MW and 120 pots of Smelter with a capacity to produce 57,500 MT of aluminium per year. During the year 2005, the company had inked an agreement with NMDC. During the year 2005-06, the company has enhanced its installed capacity of Special Grade Alumina (Calcined Alumina) & Aluminium Strips-RPU by 7000 Tonnes & 26000 Tonnes respectively.
The Company had allotted 'UTKAL-E' Coal Block in the year 2006-07, having a reserve of around 70 million tonnes for its new units at Captive Power Plant by the Government of India. NALCO had embarked on an ambitious growth plan under 2nd phase expansion project at an estimated cost of Rs.5, 003 crore. As at January 2008, NALCO had inked a preliminary deal with the Indonesian government for a USD 3.2 billion project to build an aluminium smelter and power plant on Sumatra Island. The company is looking at building the smelter with an annual capacity of 250,000 tons in the first phase. It also plans to build the coal-fired power plant with a capacity to generate 750 megawatts of electricity. On 20 December 2018, National Aluminium Co. Ltd (NALCO) entered into a MoU with Rak Minerals & Metals Investments (RMMI), under which RMMI will have 24 per cent stake in Nalco's new aluminium project in Indonesia. While operations of the proposed smelter would leverage on RMMI's transport infrastructures in South Sumatra, the MoU also envisages actively scouting for other viable locations in Indonesia. This joint venture is aimed to create synergic value for the two companies and will enhance commitment to the project.
In February 2008, Andhra Pradesh government approved the company's 1.5 million ton aluminum refinery and a 2.57-lakh ton smelter in Andhra Pradesh. In April of the year 2008, the company had stepped into a memorandum of agreement (MoA) with Bharat Earth Movers (BEML) for production of aluminium rails and wagons and, subsequently, aluminium rail coaches and metro coaches. NALCO had short listed coalmines in Sumatra Island in May of the year 2008, to secure supplies for its proposed 750 MW power plant in Indonesia.
During May of the year 2008, NALCO was conferred the Navratna status. On 26 December 2008, National Alumnimum Company Ltd (Nalco) formally switched on the first pot at Angul in Odisha which marked the commissioning of the 4th Potline under the 2nd phase expansion of the Aluminium Smelter.
The Board of Directors of National Aluminium Company (NALCO) at its meeting held on 31 January 2011 recommended sub-division of face value of share of Rs 10/- each fully paid up into 2 (Two) equity shares of Rs. 5/- each fully paid-up and issue of bonus shares to the existing shareholders of the company in the proportion of 1 (One) Bonus share for every 1 (one) existing fully paid-up equity share held.
On 15 September 2015, National Aluminium Company (NALCO) announced that the company has been allocated Utkal D and E coal blocks, in Angul district of Odisha, where the company's 4.6 lakh tonne aluminium smelter and 1200 MW captive power plant are located.
On 24 November 2015, National Aluminium Company (NALCO) informed the stock exchanges that the company has received USD 8.05 million towards an out of court settlement from a US firm in connection with a case pending in the US Court.
National Aluminium Company (NALCO) registered highest-ever bauxite & alumina production during the financial year ended 31 March 2016. The aluminium major registered an all-time high production of 63,40,142 tonnes of bauxite in 2015-16 fiscal i.e. 10.47% higher, and 19,53,000 tonnes of alumina i.e. 5.51% higher than the corresponding figures of the previous fiscal.
On 6 May 2016, National Aluminium Company (NALCO) informed the stock exchanges that that Govt. of India vide Allotment Order dated 2 May 2016 has allotted Utkal-D & E Coal Mine in favour of the company. The Allotment Order was issued by the Office of Nominated Authority, Ministry of Coal on behalf of Govt, of India. All the rights, title and interest in and over the land and mine infrastructure of both Utkal-D & E Coal Mines shall stand fully and absolutely transferred and vested in the allotee i.e. NALCO.
On 23 May 2016, National Aluminium Company Limited (NALCO) and Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO) signed an MoU to jointly explore the possibility of setting up an aluminium smelter in Iran, with supply of alumina from NALCO's refinery in India. The MoU also envisages tolling arrangement with existing smelters in Iran for producing aluminium from alumina supplied by NALCO. Inter alia, the MoU proposes to look into other business collaborations as well.
The Board of Directors of National Aluminium Company Limited (NALCO) at its meeting held on 25 May 2016 approved the proposal to buyback not exceeding 64.43 crore equity shares of the company (representing 25% of the total number of equity shares in the paid-up share capital of the company) at a price of Rs 44 per equity share payable in cash for an aggregate consideration not exceeding Rs 2834.96 crore from all the equity shareholders of the company, as on the record date, on a proportionate basis through a Tender Offer route. The Board of Directors noted the intention of the Promoter of the Company to participate in the proposed Buyback.
On 13 July 2016, National Aluminium Company Limited (NALCO) announced that the company has been granted Pottangi Bauxite Mines, in Koraput district of Odisha, where the company's 22,75,000-tonne Alumina Refinery is located. As per a recent order issued by Department of Steel & Mines, Govt of Odisha, NALCO has been granted the mining lease of Pottangi with an area covering 1738 hectares for a period of 50 years. NALCO's expansion plans, including the proposed addition of 5th stream in its existing Alumina Refinery at an investment of Rs 5600 crore, greatly depended on this additional source of bauxite.
On 16 December 2016, National Aluminium Company Limited (NALCO) and NTPC Ltd., the Maharatna Power Producer, entered into an MoU for developing power projects and other business collaborations in India. Under the MoU, the companies will float a Joint Venture namely NTPC-NALCO Power Company (NNPC) to set up power plants. The first such power plant is planned at Gajamara, Odisha with a capacity of 2,400 MW (3X800 MW), at an estimated investment of Rs. 14,000 crore. The proposed super critical power plant with state-of-the-art technology will supply uninterrupted power to NALCO's Smelter at Angul. The process for acquisition of 1,600 acres of land in Gajamara has already commenced.
On 18 September 2017, NALCO, Hindustan Copper (HCL) and Mineral Exploration Corporation (MECL), the three CPSEs under the administrative control of the Ministry of Mines, Government of India, signed an MoU to make the country self-reliant in the areas of 12 strategic materials that are either not available in the country or not available in the desired quantity.
On 8 January 2018, NALCO unveiled Corporate Plan 2032 that provides strategic way forward for the company up to 2032. The new plan envisages NALCO to reach a turnover of Rs 18171 crore with profit after tax (PAT) of Rs 1693 crore by 2024 with enhancement of the smelting capacity to 1.1 million tons and refining capacity to 3.27 million tons. The long term strategy foresees the company to reach a turnover of Rs 31248 crore and PAT of Rs 3010 crore by 2032. The corporate plan also envisages backward integration to CT Pitch & caustic soda; forward integration to extrusion, foils and castings; expanding value addition capacities in wire rods and rolled products; diversifying into commercial mining in bauxite and chromite, conductors & Lithium-Ion batteries.
The achievement in CAPEX is Rs 919.39 crore during the year 2018-19, excluding investment in JV companies amounting to Rs 58.20 crore.
The Company is in process of augmenting its wind power generation capacity from 198.40 MW to 223.90 MW by adding another wind power project of capacity 25.5 MW at Kayathar, Tamil Nadu at a capital expenditure of Rs 163 crore.
The Company has formed a JV Company GACL - NALCO Alkalies & Chemical Pvt. Ltd. with GACL to set up 2.7 lakh TPA Caustic Soda Plant along with 130 MW Captive Power Plant (CPP) at Dahej in Gujarat. The project is being executed in full swing.
The Company and Odisha Industrial Infrastructure Development Corporation (IDCO) have formed a JV Company for establishment of Angul Aluminium Park Pvt. Ltd. (AAPPL) for promotion of downstream industries in the State.
The Company has signed a MoU with Neelachal Ispat Nigam Ltd. (NINL) to set up a Coal Tar Distillation plant based on the Coal Tar generated in NINL's Coke Oven Plant.
The Company has signed a MoU with Mishra Dhatu Nigam Ltd. (MIDHANI) for establishment of High End Aluminium Alloy Plant in JV mode for Defence, Aerospace & Automobi e Sectors. NITI Aayog has given clearance for the JV project in March, 2019.
NALCO has constituted a JV Company with M/s Mishra Dhatu Nigam Ltd. (MIDHANI) named Utkarsha Aluminium Dhatu Nigam Limited (UADNL) in August, 2019 for establishment of high end Aluminium Alloy Plant for use in Defence, Aerospace & Automobile Sectors. The plant will be set up in Nellore district of Andhra Pradesh. The estimated project cost is Rs 4542 crore and expected commissioning by 2024-25.
Joint Venture Company 'Khanij Bidesh India Limited (KABIL)' has been formed amongst NALCO, HCL and MECL in August, 2019 for acquisition of some strategic minerals in overseas locations to promote 'Make in India' initiative of Government of India. Study on 12 shortlisted minerals completed in December, 2019.
The Company executed the Mining Lease of Utkal-D on 25th March, 2021 after obtaining requisite regulatory clearances and completing land acquisition in the Mining Lease area. T
During 2022, the Company operationalised all its 960 nos. of pots at its Smelter Plant on 12th January, 2022, a milestone of achieving 100% capacity utilization for the first time. It also achieved highest ever Bauxite production of 75.11 lakh tonne in FY 2021-22.
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