In today's [SMM Analysis] India's Vraj Iron & Steel Ltd has approved the first phase of a 450 crore rupees ($52 million) greenfield integrated steel project in the eastern state of Chhattisgarh, adding 201,000 tonnes per year (tpy) each of sponge iron and mild steel billets. The company expects the first phase to be commissioned within 30 months of the groundbreaking ceremony.

India's National Aluminium Company (NALCO) plans to expand its Angul smelter by 500,000 tpy, with commissioning targeted for early 2030. To support the additional 800 MW power demand, NALCO and NLC India have formed a 50:50 joint venture to develop a 1,080 MW captive thermal power plant, backed by a 25-year power purchase agreement and long-term coal supply. NALCO also plans to develop 200–250 MW of renewable energy capacity to meet Renewable Consumption Obligation (RCO) requirements.

[SMM Aluminum Express News] Adani Group and Abu Dhabi’s International Holding Company (IHC) have signed an MoU to jointly invest US$11.5 billion in an integrated aluminium project in Odisha, marking the largest foreign investment in India’s metals sector. The 50:50 joint venture will comprise a 4 mtpa alumina refinery, 2 mtpa aluminium smelter, captive power plant, and 1 mtpa downstream aluminium manufacturing park

Recently, the chairman of India's state-owned National Aluminium Company (NALCO) announced an expansion plan. The plan will involve an investment of 280–300 billion rupees (equivalent to 23.8–25.5 billion yuan) over the next 3 to 4 years. Specifics include the construction of a new aluminum smelter with an annual capacity of 500,000 mt, along with a supporting 1,000 MW captive power plant. The project is expected to commence construction in 2027 and be commissioned from 2030 to 2031. In terms of capital allocation, the aluminum segment will receive an investment of 170 billion rupees, and the captive power plant will receive 100 billion rupees. Furthermore, to reduce carbon emissions, the company has set a goal of having 30% of its production electricity come from green electricity by 2030. It is currently developing wind and PV projects in parallel and plans to purchase green electricity externally to help reduce emissions.

In recent years, Indonesia's energy transition has shown clear signs of acceleration. As the government sets more ambitious renewable energy targets, and as mining decarbonisation, island-based power system upgrades, floating PV project development and local manufacturing build-out continue to advance, the long-term growth potential of Indonesia's solar PV, energy storage and microgrid markets is opening up further.

SMM, May 27 – According to SMM statistics, the total scale of alumina projects currently under construction or in the planning stage in Guinea has exceeded 11.4 million mt/year, with new capacity expected to be gradually commissioned after 2028. From a project structure perspective, Chinese-invested enterprises remain the key driving force behind development. Many projects are integrated with supporting bauxite mines, captive power plants, and port facilities, highlighting a clear vertically integrated industrial chain strategy. If these projects progress as planned, Guinea is expected to transform from a traditional bauxite-exporting country into a major global alumina production hub. This could have a profound impact on future global alumina trade flows and China’s long-term raw material supply security.

Rumored NPI production cuts at one of Indonesia's largest nickel hubs reveal a deeper structural shift — and a stark gap in per-megawatt-hour returns between aluminum and nickel.

[SMM Aluminum Express News] Vedanta Aluminium is advancing a major expansion in Odisha with a planned investment of around ₹1.8 lakh crore (~US$21–22 billion), reinforcing its strategy to scale up an integrated aluminum value chain. The project includes a 3 MTPA aluminum smelter, 6 MTPA alumina refinery, and a 4,900 MW captive power plant, alongside downstream facilities—strengthening its position as a fully integrated producer.

On January 22, 2026, a serious accident occurred in Chhattisgarh, a key steel-producing hub in central India. A severe explosion took place at the plant of Real Ispat & Power Ltd (RIPL) in the Baloda Bazar-Bhatapara district, resulting in at least 6 confirmed fatalities and multiple severe injuries. This incident is not an isolated safety tragedy but occurred at a sensitive time when the Indian steel industry is undergoing a critical transition. Just two weeks before the accident, India's largest iron ore miner, National Mineral Development Corporation (NMDC), had announced a reduction in iron ore prices in response to weak domestic demand and buyer resistance sentiment. Meanwhile, despite abundant domestic reserves, India's iron ore imports in 2025 hit a seven-year high. The plant is a well-known integrated steel mill locally, possessing complete facilities including a coal-based direct reduced iron (DRI) rotary kiln, steelmaking shop, and rolling mill line. According to testimonies from onsite workers and preliminary police reports, the facility that exploded was the Dust Settling Chamber (DSC) connected to the coal-fired rotary kiln. Accident Steel Mill Profile: Steel Mill Name: Real Ispat & Power Ltd (RIPL) Location: Bakulahi Village, Baloda Bazar District, Chhattisgarh (near the Raipur industrial cluster) Main Products: Coal-Based Direct Reduced Iron (DRI) , Mild Steel Billets, Long Products (TMT rebar, wire rod, etc.), and captive power plant electricity. Capacity Estimates: DRI Capacity: Estimated at 600,000 mt/year . Steelmaking and Rolling Capacity: Equipped with induction furnaces and a rolling mill, mild steel billet production is approximately 750,000 mt/year , rebar and construction materials capacity is about 870,000 mt/year , and other deep processing and industrial wire rod capacity is around 300,000 mt/year . Core Impact of the Accident: The accident caused 6 deaths, constituting a major safety liability incident. Based on past experience (such as the responses following the Bhilai accidents in 2014 and 2018), there is a high probability that local authorities will immediately launch comprehensive safety inspections targeting all private DRI plants and induction furnaces across the state. A large number of small and medium-sized steel mills may be forced to temporarily suspend production or reduce operating rates due to compliance checks. This is expected to lead to a 5%-10% decline in the overall steel operating rate in the region over the next 1-2 weeks. Chhattisgarh is India's direct reduced iron (DRI) production hub. The plant's shutdown is expected to reduce spot DRI supply in the Raipur market by approximately 1,600 mt per day. While the impact on global supply is negligible, it will cause immediate tightness in raw material supply for secondary steel mills (electric furnace steel mills) in the Raipur-Durg region, potentially triggering a short-term spike in regional DRI prices . In mid-January, DRI prices in the Raipur area had already rebounded due to some restocking demand, reaching around ₹26,400/mt (approximately $293). The sudden shutdown of RIPL, coupled with potential subsequent safety inspections of surrounding plants, is highly likely to push up spot DRI prices in the Raipur area in the short term. DRI plants like Real Ispat are major local buyers of iron ore lumps and pellets . If a regional shutdown and rectification campaign erupts in the Raipur area, local demand for high-grade lumps will instantly freeze . In the short term, the domestic Indian lump premium may come under pressure and decline, as major buyers (DRI plants) dare not operate. Against the backdrop of robust iron ore demand, this actually signals a supply-side bottleneck . Although India's raw material demand is strong, its backward processing and conversion capacity (especially in the private DRI sector) may be unable to safely accommodate such high growth rates. This will lead to a short-term phenomenon of unsold raw materials (iron ore) alongside rising prices for finished products (steel) . It is noteworthy that India's iron ore imports hit a seven-year high in 2025, reaching 12.2 million mt, with JSW Steel alone accounting for 80%. Currently, the Indian iron ore market exhibits severe dual polarization. Coastal steel mills (like JSW) are importing large quantities of high-grade ore due to logistical advantages and falling global ore prices (below $100/mt); whereas inland steel mills (like RIPL) are constrained by logistical bottlenecks and reliant on NMDC. To address this raw material "bottleneck," RIPL has been attempting to build its own pellet plant (0.8 MTPA), originally scheduled for commissioning in January or Q1 2026. The explosion will inevitably delay the commissioning and operation of this critical project. This means RIPL will remain exposed to raw material price volatility and unable to reduce costs as planned through self-produced pellets.

Mempawah Alumina Refinery's Six Power Generation Units Are Expected to Officially Commence Operation in 2028 The smelting project of Indonesian aluminum company PT Indonesia Asahan Aluminium (Inalum) in Mempawah, West Kalimantan requires a substantial power supply. Faktakalbar.id, Mempawah – PT Indonesia Asahan Aluminium (Inalum) stated that to support the Phase II project of its Smelter Grade Alumina Refinery (SGAR) in Mempawah, West Kalimantan, a massive power supply is needed. Energy security is a key factor in ensuring the stable and sustainable operation of the smelter. Al Jufri, Group Head of Business Development and Strategy for the aluminum business, said the company plans to build a Captive Power Plant through a tender to meet the electricity needs of the smelter. The power plant will not be built by Inalum itself but will be advanced through cooperation with a third party. "Inalum will not build the power plant ourselves; we will cooperate with one of the partners. As I mentioned earlier, it is currently in the tender stage. The winning bidder will construct it, and we will then purchase electricity from them. There are several potential domestic participants," stated Al Jufri on Thursday, December 18, 2025, in Jakarta. He explained that the electricity demand for the Phase II project of the Mempawah SGAR reaches 1.2 gigawatts (GW). The power supply will be provided by six power generation units, each with a capacity of 200 megawatts (MW).