NALCO Unveils Rs 30,000 Crore Investment Plan for Odisha
Targets ‘Maharatna’ Status by 2030 with Massive Expansion
Bhubaneswar: State-owned National Aluminium Company Limited (NALCO), a leading Navratna PSU, has announced an ambitious investment roadmap of Rs 30,000 crore in Odisha over the next five years. The plan, unveiled at the NALCO Media Connect 2025 event in New Delhi, reflects the company’s determination to achieve ‘Maharatna’ status by 2030, a designation that would enhance its autonomy and financial strength within India’s public sector framework.
NALCO Chairman and Managing Director (CMD) Brijendra Pratap Singh revealed that Rs 18,000 crore will be spent on setting up a new smelter plant in Odisha, while an additional Rs 12,000 crore has been earmarked for a coal-based power plant. These large-scale projects are expected to significantly enhance the company’s production capacity, energy security, and contribution to Odisha’s industrial landscape.
At present, NALCO has an annual turnover of around Rs 17,000 crore. The company aims to raise this figure to Rs 25,000 crore in the coming years by scaling up production, modernising facilities, and tapping into global markets. Key to this growth strategy is the expansion of the Damanjodi alumina refinery and the operationalisation of the Pottangi bauxite mine.
CMD Singh stated that the Pottangi mine, recently allocated to NALCO, will start operations by June 2026. Initially, it will produce around 75 lakh tonnes of bauxite annually, which will gradually increase to 110 lakh tonnes per year. This surge in mining will feed the company’s growing alumina and smelting requirements.
Currently, NALCO produces about 21 lakh tonnes of alumina annually. Under its expansion roadmap, the company has set a target to increase output by an additional 10 lakh tonnes. The commissioning of this expanded capacity is planned in two phases: by June 2026 for the first tranche, and by March 2027 for the complete 10-lakh-tonne addition. Singh emphasised that this boost will strengthen NALCO’s position both domestically and internationally.
Alongside domestic expansion, NALCO is also focusing on widening its international footprint. The company has identified England as a key export destination in its future plans. While global aluminium markets remain highly competitive, NALCO is confident of sustaining its position. The CMD also clarified that the recent tariff policies announced by the United States are unlikely to have any major impact on the company’s operations or profitability.
The massive investments planned in Odisha are expected to generate significant employment opportunities, both direct and indirect, particularly in the mining and industrial belts of the state. The upcoming smelter and power plant will not only contribute to Odisha’s economy but also create avenues for skill development and ancillary industries in the region.
One of the central goals of NALCO’s five-year strategy is to secure ‘Maharatna’ status by 2030. Currently, NALCO enjoys the Navratna tag, but the upgrade would give it greater financial independence, higher investment ceilings, and stronger global competitiveness.
“Our vision is to become a global aluminium leader with Odisha as the hub of our operations. The next five years will be crucial for both the company and the state,” Singh said.
With clear plans for smelter expansion, enhanced alumina output, stronger mining operations, and international outreach, NALCO is positioning itself as a key driver of Odisha’s industrial growth. The Rs 30,000 crore investment plan not only reflects confidence in Odisha’s resources and policy environment but also underlines the company’s commitment to sustainable growth. If executed as planned, NALCO could well achieve its target of becoming a ‘Maharatna’ by 2030, marking a new chapter in India’s aluminium industry.
