NLC India Ltd has signed three strategic Memoranda of Understanding (MoUs) with IPICOL on 22 October 2026, outlining major initiatives in thermal power generation, beach sand mineral processing and coal gasification. The agreements encompass proposed investments totalling approximately ₹37,000 crore across the power and mineral-processing projects, alongside a separate feasibility initiative for coal-based synthesis gas production. According to the latest reports, these initiatives could generate approximately 4,500 employment opportunities and strengthen Odisha's industrial future. The centrepiece of the agreements is a proposed 3,200 MW ultra-supercritical coal-based thermal power plant involving an estimated investment of ₹35,000 crore.
The proposed projects are expected to generate significant employment opportunities across Odisha. The thermal power plant project is anticipated to create approximately 4,000 employment opportunities, while the beach sand mineral processing facility is expected to create another 500 jobs. An executive of the company confirmed that the construction of the Talabira power plant is underway, with the location and land particulars for the new 3,200 MW ultra-supercritical thermal power plant at an advanced stage of finalisation. The ultra-supercritical power plants operate at higher steam temperatures and pressures than conventional thermal facilities, allowing greater thermal efficiency while remaining coal-based projects.
Following the MoU signing announcement, NLC India shares declined 1.99% to ₹228.90 on Friday trading session. The stock opened at ₹234.90 and touched an intraday high of ₹235.60 before slipping to a low of ₹222.30. The company commands a market capitalization of ₹31,781.71 crore. The Nifty 50 traded at 22,517, down 0.75%, while the Sensex fell 0.46% to 72,932 on Friday. The market reaction reflects investor response to the significant scale of the Odisha investments and their impact on the company's expansion strategy.
NLC India is currently developing a 2,400 MW thermal power plant linked to its Talabira coal mines in western Odisha, with an estimated investment of ₹27,213 crore. In January 2024, the company awarded Bharat Heavy Electricals Ltd the engineering, procurement and construction contract for this project. The plant is linked to the Talabira II and III opencast coal mines, which have a combined annual production capacity of 20 million tonnes. The company has also expanded its coal mining portfolio through the allocation of the Machhakata coal block in Angul district with a planned capacity of 30 million tonnes a year, and the New Patrapara South block with a planned capacity of 12 million tonnes a year.
NLC India has entered into strategic partnerships to strengthen its power generation capabilities. The company signed a joint venture agreement in July this year with National Aluminium Company Ltd (Nalco) for a 1,080 MW captive thermal power plant at Angul, with each holding a 50 per cent stake. The facility will meet the power requirements of Nalco's aluminium operations. The beach sand mineral processing proposal assumes significance as Odisha's coastline contains deposits of heavy minerals that can support downstream processing and the development of mineral-based industries. Minerals such as ilmenite, rutile and zircon are used in sectors including pigments, ceramics and titanium-related manufacturing.
