NLC India has signed agreements with Odisha’s Industrial Promotion and Investment Corporation (IPICOL) to examine projects in power generation, coal gasification and mineral processing, involving potential investments of Rs. 370 bn. The agreements were signed in Mumbai on October 22 by I.S. Jasper Rose, NLC India’s executive director for mines and land, and Aboli Sunil Naravane, IPICOL’s managing director.

The largest proposal is a 3,200 MW coal-fired power plant comprising four 800 MW units. The project is estimated to require an investment of Rs. 350 bn and is expected to create about 4,000 jobs, according to NLC India.

The company will also assess the technical feasibility of coal gasification in Odisha and the production of synthesis gas, or syngas, for potential use in the fertiliser industry. The assessment will consider possible links between coal gasification and fertiliser production. Syngas can be used to produce chemicals, hydrogen, methanol and fertiliser feedstocks.

Under a separate agreement, NLC India and IPICOL will examine a beach sand mineral processing facility involving a tentative investment of Rs. 20 bn. The facility is expected to generate about 500 jobs. The proposed initiatives are aimed at supporting Odisha’s industrial development, expanding its power infrastructure and creating opportunities in mineral processing and the coal and fertiliser industries.

NLC India had separately announced on September 29 that its board approved a 50:50 joint venture with National Aluminium Company to develop a 1,080 MW captive thermal power plant. The venture, proposed under the name NLC NALCO Power or another name approved by the Ministry of Corporate Affairs, will develop the project in phases. NLC India shares closed 2.47 per cent lower at Rs. 232.75 on the National Stock Exchange on October 22.