New Delhi: State-owned National Aluminium Company Ltd (NALCO) on Thursday said its Rs 30,000 crore capital expenditure (capex) plan for smelter expansion with captive power has not been deferred and is progressing as per schedule.
The company said the detailed project report on brownfield smelter expansion, along with associated facilities including captive power plant with RE power, is under updation incorporating the latest business requirements.
The clarification from the company comes following a media report which said, "NALCO defers Rs 30,000 crore capex as Rio Tinto Canada tie-up stalls."
The NALCO management refutes the report, the filing said.
"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," it said in a filing to BSE.
The power requirement for smelter expansion and different configurations along with RE power are being considered. Joint Venture (JV), if any, with suitable partners would be firmed up after finalisation of the detailed project report (DPR), it said.
NALCO had reported a twofold jump in consolidated net profit at Rs 2,067.23 crore for March quarter 2025 due to higher revenue from operations. The company had logged a profit of Rs 996.74 crore in the year-ago period.
Revenue from operations in January-March FY25 rose to Rs 5,267.83 crore from Rs 3,579.05 crore a year ago. NALCO is a bauxite, alumina, aluminium and power complex.
Currently, the Centre owns 51.28 per cent of NALCO's equity capital.
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