NALCO to Invest Rs 300 Billion in Smelter, Power Plant

01 Sep 2025 CW Team

State-run National Aluminium Company (NALCO) will invest Rs 300 billion over the next five years to develop a new aluminium smelter and a coal-based power plant, Chairman and Managing Director Brijendra Pratap Singh announced on Thursday.

Speaking to reporters in New Delhi, Singh said approximately Rs 180 billion has been earmarked for setting up a greenfield smelter project in Odisha. The investment will be financed through a combination of internal accruals and debt. The remaining Rs 120 billion will go towards establishing a coal power plant, for which NALCO is currently in discussions with Coal India and NTPC.

Singh also shared that NALCO is actively exploring new coal and bauxite mining opportunities within India to secure long-term raw material supply. The company already operates integrated bauxite mining and alumina refining operations in Odisha.

Beyond domestic expansion, NALCO is eyeing global resources to support India’s growing electric vehicle ecosystem. The company is conducting eligibility assessments at five lithium mines in Argentina, a key source of the critical mineral used in battery manufacturing.

Through its joint venture, Khanij Bidesh India Limited (KABIL)—a collaboration with Hindustan Copper and Mineral Exploration and Consultancy Limited—NALCO is also pursuing equity investments in Australian lithium assets. These efforts align with India’s broader strategy to secure access to critical minerals and build a resilient supply chain for green technologies.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..