Gujarat Mineral Development Corporation (GMDC) has acquired land in excess of 100 hectares for the first phase of an alumina plant and aluminium smelter plant. The plant which would be set up in joint venture with Navratna Public Sector Unit (PSU) National Aluminium Company (NALCO) at Mandvi taluka in Kutch district. GMDC has 26% equity in this joint venture and will supply bauxite for the project from its group of mines in Kutch.
In all, 400 hectares of land is required for the first phase of the project. The first phase of the project involves setting up an alumina plant whereby alumina will extracted from the ore bauxite by means of a process at an alumina refinery. The second phase involves setting up an aluminium smelter plant. Aluminium smelting is the process of extracting aluminium from alumina.
Investment for the first phase of the project would be around Rs 5,400 crore, up from initial estimates of Rs 4,000 crore. Moreover, the total investment for the project (including the aluminium smelter plant) would be around Rs 10,000 crore to Rs 12,000 crore.
GMDC is engaged in business of mining and mineral processing. The company manufactures two grades of fluorspar namely acid and metallurgical. It owns two bauxite reserve located at Kutch and Jamnagar.
| Company Name | CMP |
|---|---|
| Coal India | 456.50 |
| NMDC | 86.89 |
| GMDC | 666.80 |
| Sandur Manganese | 207.05 |
| MOIL | 319.45 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: