Current Affairs - Business - Discussion

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.