NTPC, Nalco to form joint venture for power generation

Bhubaneswar, Dec 16: National Thermal Power Corporation (NTPC)
and National Aluminium Company Limited (Nalco) on Friday signed an Memorandum
of Understanding (MoU) in New Delhi for developing power projects and other
business collaborations in India.

The Joint Venture Company will establish a 2400 MW (3X 800 MW
) coal based power project at Gajmara, Dhenkanal in Odisha and supply captive
power for expansion plans of Nalco at Angul and also greenfield project at
Kamakhyanagar in Dhenkanal, Odisha.

The pact was signed by BK Thakur Director (HR), Nalco and K
Biswal Director (Finance), NTPC in the presence of Union Power, Coal NRE and
Mines Minister Piyush Goyal, Union Petroleum and Natural Gas Minister Dharmendra
Pradhan, Odisha Steel and Mines Minister Prafulla Mallick, Dhenkanal MP Tathagata
Satpathy, NTPC CMD Gurdeep Singh and Nalco CMD Dr TK Chand.

Speaking on the occasion Goyal said in coming days the demand
for aluminium shall increase many folds in the rapidly growing Indian economy
the projects led by swadeshi companies shall take forward the Make in India
initiative bringing jobs and opportunities for the people of Odisha. He
appreciated the turnaround capability of NTPC by running nearly 50 year old
Talcher Thermal Power Station at more than 90 % PLF.