Nalco Says ₹300 Billion Smelter Expansion Capex Not Delayed

National Aluminium Co. Ltd. has not deferred its ₹300 billion capital expenditure plan for brownfield smelter expansion with captive power, the company clarified Thursday in response to a media report suggesting a delay.

Dismissing the Hindu BusinessLine report, Nalco said discussions with technology partners, including Rio Tinto Alcan, are "on track" and actively being pursued. However, the company said it was too early to share details of these negotiations.

During its March quarter earnings call, Chairman and MD Brijendra Singh had said the company was revisiting its detailed project report after Rio Tinto Alcan declined to offer its smelter technology. Nalco expects the report to be ready in six to eight months, after which tendering will begin. The tendering process may take about one to one-and-a-half years, followed by three to four years for project commissioning.

Nalco also denied reports of stalled discussions with NTPC Ltd. for power supply. The company said it is evaluating multiple power configurations and will firm up joint venture plans after finalising the DPR.