National Aluminium Company Limited (NALCO), a manufacturer of aluminum products and NTPC Limited, a power generation company, have agreed to invest INR140,000 million (USD2,170 million) in the construction and development of a coal fired power plant situated at Gajamara in Dhenkanal, Odisha, India. The total installed capacity of the power plant will be 2,400 MW. The investment per MW will be USD0.9 million.
NALCO and NTPC will set up the power plant in two phases. The first phase of the power plant will have an installed capacity of 1,400 MW.