Nalco clarifies ₹30,000-cr smelter expansion plan on track, not deferred

Nalco denies media reports suggesting its ₹30,000-crore smelter capex has been deferred due to stalled talks with Rio Tinto; says project and partner discussions are ongoing

State-run National Aluminium Company Ltd (Nalco) on Thursday clarified that its ₹30,000-crore capital expenditure plan for smelter expansion with captive power is progressing as planned and has not been put on hold.

 

The company said it is currently updating the detailed project report (DPR) for its brownfield smelter expansion, which includes a captive power plant integrated with renewable energy. The revision is being undertaken to align with evolving business needs.

 

Nalco issued the clarification via a filing to the Bombay Stock Exchange (BSE), stating: “The Nalco management refutes the report.” It added that discussions with technology partners are ongoing. “Discussion with technology partners, including RTAL, is being actively pursued and is on track. It is premature to disclose any details on the discussion at this stage,” the company said in the filing.

 

The company further noted that various power supply configurations, including renewable energy, are being evaluated. It emphasised that any joint venture (JV) with partners will be finalised only after the DPR is completed. 

 

Profit doubles in Q4FY25

 

Nalco recently posted strong financial results for the March 2025 quarter, reporting a consolidated net profit of ₹2,067.23 crore — more than double the ₹996.74 crore reported in the same period last year.

 

Revenue from operations for the January–March period rose to ₹5,267.83 crore, compared to ₹3,579.05 crore a year earlier.

 

Nalco operates across the full aluminium value chain, including bauxite mining, alumina refining, aluminium smelting, and power generation. The Indian government currently holds a 51.28 per cent stake in the company.