NLC India Signs MoUs for ₹37,000 Crore Investment in Odisha, Plans 3,200 MW Thermal Power Plant and Mineral Processing Facility

NLC India Limited (NLCIL) has signed three Memorandums of Understanding (MoUs) with the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) to pursue major investments worth approximately ₹37,000 crore in Odisha's power generation and mineral processing sectors. The agreements, signed in Mumbai on October 22, 2026, also cover the exploration of coal gasification technology for potential applications in fertiliser manufacturing.

The largest component of the proposed investment is a 3,200 MW ultra-supercritical coal-based thermal power plant, estimated to cost ₹35,000 crore. The project will comprise four generating units of 800 MW each and is expected to create employment opportunities for approximately 4,000 people. The proposed facility is intended to strengthen Odisha's power generation infrastructure, support growing industrial electricity requirements and expand NLC India's presence in eastern India's energy sector.

The proposed thermal power station will utilise ultra-supercritical technology, which operates at higher steam temperatures and pressures than conventional thermal power plants, enabling improved thermal efficiency. The development is expected to generate significant opportunities for engineering, procurement and construction (EPC) contractors, power equipment manufacturers, boiler and turbine suppliers, electrical system providers and associated infrastructure developers, subject to the project progressing through the necessary approvals and investment decisions.

Under a separate MoU, NLC India plans to establish a beach sand mineral processing facility involving an estimated investment of ₹2,000 crore. The proposed facility is expected to generate approximately 500 employment opportunities while supporting the growth of mineral-based industries in Odisha. The project could create opportunities for mineral processing equipment suppliers, material handling system manufacturers, plant engineering companies and related industrial service providers.

The third agreement focuses on evaluating the technical feasibility of coal gasification and the production of synthesis gas, commonly known as syngas, for potential use in the fertiliser industry. This initiative aims to explore opportunities for integrating coal resources with downstream chemical and fertiliser production, supporting domestic industrial value chains. No separate investment amount has been announced for the coal gasification initiative.

The MoUs were signed by I.S. Jasper Rose, Executive Director (Mines & Land), NLC India Limited, and Aboli Sunil Naravane, Managing Director, IPICOL, in the presence of Odisha Chief Minister Mohan Charan Majhi, Additional Chief Secretary Hemant Sharma and NLC India Chairman and Managing Director Prasanna Kumar Acharya.

Together, the proposed thermal power and mineral processing investments represent a substantial potential expansion of NLC India's operations in Odisha. The projects are expected to support industrial development, strengthen energy infrastructure and generate approximately 4,500 employment opportunities, based on the company's preliminary estimates.

However, the developments remain at the MoU stage, and the agreements do not constitute final investment approvals or construction awards. Specific project locations, implementation schedules, EPC contractors and commissioning timelines have not yet been announced. Further progress will depend on feasibility assessments, regulatory clearances, financing arrangements and subsequent investment decisions.

If implemented, the projects could establish significant new opportunities across Odisha's energy, mining, mineral processing and industrial infrastructure sectors, while strengthening NLC India's role in the state's long-term industrial development.