NTPC, NALCO ink MoU to establish a 2.4 GW power project at Gajmara, Odisha

State-owned power producer National Thermal Power Corporation (NTPC) and aluminium producer National Aluminium Co. Ltd (NALCO) have signed MoU to establish a 2.4 giga watt (GW) Coal based power project at Gajmara, Odisha.
The MoU will facilitate setting up of a Joint Venture (JV) Company between NTPC and NALCO. It also seeks to set up one million tonne aluminium production facility in Odisha.

Key Facts

• The proposed 2.4GW power plant at Gajmara will comprise three units of 800 megawatts (MW) each. It will source coal from the mines operated by NALCO.
• The power from plant will be provided to NAlCO’s factory at Angul which is aluminium smelter project (that converts raw material alumina into aluminium) and also Greenfield project at Kamakhyanagar in Dhenkanal district of Odisha.
• This JV project will act as a catalyst for industrial growth in the region creating direct and indirect employment for engineers, supervisors and skilled, semi-skilled and unskilled workers.
• It will strive to keep the cost of power generation to a minimum so as to benefit aluminium production for automobile and aerospace industries to improve energy efficiency.

About National Thermal Power Corporation Limited

• NTPC limited is a Central Public Sector Undertaking (CPSU), operational under the aegis of Union Ministry of Power. It is engaged in the business of generation of electricity and allied activities.
• It is India’s largest power generator company and accounts for 25% of total electricity generated in the country.
• Headquarters: New Delhi.
• Established: 1975.
• Union Government now holds 70% of its equity shares as of May 2015 (after divestment of its stake in 2004, 2010, 2013, and 2015).

Month: Current Affairs - December, 2016