Nalco plans Alloy Wire Rod manufacturing facility at Angul

National Aluminium Company Limited (Nalco), is planning to set up an Alloy Wire Rod manufacturing facility at its existing Smelter Plant at Angul, Odisha to cater to increasing demand for aluminium in power sector, particularly in power transmission. The upcoming Alloy Wire Rod manufacturing facility to be set up at a cost of about Rs 131 crores and will have an installed capacity of 40,000 tonnes per year (Alloy Grade) /60,000 tonnes per year (EC Grade). Nalco has clocked a PAT of Rs 687 crore in the first quarter, a five-fold jump over Rs 129 crore in Q1FY18.

Anil Mukim, union mines secretary, formally laid the foundation stone for the proposed Alloy Wire Rod manufacturing facility through video conferencing, at a function held at Bhubaneswar on Thursday.

Speaking on the occasion Tapan Kumar Chand, chairman Nalco said that the per capita aluminium consumption in India is only 2.2 kg against world average of 7 kg and 20 kg in China. “Various initiatives of Government of India like Smart cities, bullet trains, power to every household, energy efficient automobile, aluminium wagons etc., would boost consumption of aluminium in the country from existing level of 3.2 million tonnes per annum to 8 million tonnes per annum”, he added.