Current Affairs - Business

National Aluminium Company Limited (NALCO), a public sector enterprise under the Ministry of Mines, has announced an investment of ₹300 billion (~$3.43 billion) to establish a new aluminium smelter in Odisha and a coal-based power plant. This five-year investment plan will be financed through a combination of debt and internal accruals. Of the total, ₹180 billion is dedicated to the smelter while ₹120 billion is earmarked for the power plant. The project aims to strengthen India’s aluminium production capacity, reduce dependence on imports, and create thousands of jobs. Odisha’s rich bauxite reserves and industrial base make it an ideal location for this strategic expansion.

The agreement was signed between ADNOC and Indian Oil Corporation for a 15-year period. Under this deal, ADNOC will supply 1 million tonnes per annum of liquefied natural gas (LNG) from its Ruwais LNG project. This agreement highlights India’s strategic move to secure long-term energy supplies, ensuring steady availability of cleaner fuel for its growing economy. LNG deliveries will reach multiple ports across India, strengthening the nation’s energy infrastructure and security while supporting the transition toward lower-carbon energy sources. This partnership also reflects growing international energy collaborations between the UAE and India.

Indian Oil Corporation is set to begin sustainable aviation fuel (SAF) production in December 2025 at its Panipat refinery with a planned annual capacity of 35,000 tonnes. The initiative is designed to support India’s international airline SAF blending targets by 2027, helping reduce the aviation sector’s carbon footprint. Notably, the project will use used cooking oil as a feedstock, aligning with global sustainability practices. Indian Oil has also secured ISCC CORSIA certification, ensuring compliance with international carbon reduction and sustainability standards. This development highlights India’s commitment to green energy and its role in advancing cleaner aviation fuels.

BEML Limited, a state-owned engineering and manufacturing company under the Ministry of Defence, secured its first international rail-metro contract from Malaysia. Valued at USD 1 million, the project involves retrofitting and reconditioning Malaysia’s Mass Rapid Transport (MRT) System to enhance operational efficiency and extend service life. This milestone marks BEML’s entry into the global rail and metro services market, expanding its presence beyond India. With established expertise in defence, aerospace, mining, construction, and rail sectors, BEML’s success in Malaysia strengthens India’s footprint in international infrastructure projects and opens new opportunities in South-East Asia and other global markets.

Tata AutoComp Systems Ltd, a leading Indian auto components manufacturer, has announced plans to acquire Slovakia-based IAC Group through its British subsidiary, Artifex Interior Systems Ltd. This strategic acquisition will enhance Tata AutoComp’s presence in Europe, particularly in the automotive interiors segment. The IAC Group is well-known for producing interior components such as instrument panels, door trims, and consoles for leading global automotive brands. By integrating IAC Slovakia into its operations, Tata AutoComp will gain deeper access to European OEM supply chains, strengthen its manufacturing capabilities, and align itself with emerging industry trends like EVs and smart interiors.