Nalco to invest Rs 1.31 billion on wire rod unit to tap power sector demand

National Aluminum Company Ltd (Nalco), a public sector enterprise under the Union Mines Ministry, has unveiled a plan to set up an alloy wire rod manufacturing project at the site of its smelting unit at Angul. Estimated at Rs 1.31 billion, the planned facility envisages an installed capacity of 40,000 tonnes per annum of alloy grade material.

Nalco is establishing the unit to cater to the growing demand for aluminum in power sector, especially power transmission.

Anil Mukim, Union mines secretary, laid the foundation stone for the facility through video conferencing.

“Nalco has become the pride of India in non-ferrous sector, and the cost focus of the management has made Nalco recognized as the lowest cost producer of alumina in the world,” said Mukim.

Speaking on the occasion, Tapan Kumar Chand, Chairman and Managing Director (CMD) of Nalco, said, “The per capita aluminum consumption in India is only 2.2 kg against world average of 7 kg and 20 kg in China. Our country, as fastest growing economy in the world, is set to witness a quantum jump in aluminum consumption in next two to three years."

"Besides, various initiatives of Government of India like Smart cities, bullet trains, power to every household, energy efficient automobile, aluminum wagons etc would further give boost to consumption of aluminum in the country from existing level of 3.2 million tonnes per annum to eight million tonnes per annum."