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For the purpose of developing power projects and other business collaborations in India, the National Aluminium Company Limited (Nalco) and NTPC Ltd have entered into an MoU to form a joint venture namely NTPC-Nalco Power Company (NNPC).
The JV aims to set up its first power plant at Gajamara (Odisha) with a capacity of 2,400 MW (3×800 MW), at an estimated investment of Rs 14,000 crore. The proposed super critical power plant will be supplying uninterrupted power to Nalco’s smelter at Angul. The process for acquisition of 1,600 acres of land in Gajamara has already been commenced.
On December 16, 2016, the MoU effect has been signed in New Delhi in presence of Piyush Goyal, the Minister of State for Power, Coal, New & Renewable Energy and Mines, and Dharmendra Pradhan, Minister of Petroleum and Natural Gas.
