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Sat, 17th Dec 2016 (Source:Business Standard)
NTPC signed a memorandum of understanding (MoU) with Nalco on Friday to form a joint venture company that will develop a coal-based power plant in Gajmara. The energy produced at this unit will be used to supply power to Nalco's aluminium smelter.
Union Power Minister Piyush Goyal, who was present during the occasion along with the Union Oil Minister Dharmendra Pradhan, appreciated NTPC for running the nearly 50-year-old Talcher Thermal Power Station at more than 90 per cent PLF (plant load factor).
"The mineral-rich state of Odisha is now getting its due with many new industries being set up in the state," said Pradhan, while referring to the NTPC-Nalco project as an "ideal tie-up". "More industries should bring in state-of-art technologies to Odisha," added Pradhan.
The power purchase agreement between the two firms is expected to be finalised by the end of FY17. Coal from the mines allocated to Nalco would be linked to the JV project at Gajmara. The aluminium smelter projects and the Gajmara project will act as catalysts of industrial growth in the region creating employment opportunities for engineers, supervisors and workers.