PSU METAL STOCK IN THE SPOTLIGHT AFTER JV WITH COAL INDIA & NTPC

A PSU Navratna company engaged in the manufacturing of aluminium is in the spotlight after the company will form a joint venture to secure coal supply for its proposed Rs 12,000-crore power plant. The company we are talking about here is

. The company is setting up a 1,080 MW coal-based power plant in Odisha to support its upcoming aluminium smelter unit. The company is in talks for a possible JV with Coal India, NTPC, or other partners. This project is part of Rs 30,000-crore expansion plan, with Rs 18,000 crore earmarked for the smelter and Rs 12,000 crore for the power plant. Looking ahead, aims to achieve Maharatna status by the year 2030, targeting turnover growth from currently Rs 17,000 crore to over Rs 25,000 crore through it's planned refinery and smelter expansions which are expected to significantly boost revenue.