NCL Industries Fuels Green Growth with ₹595 Crore Investment

NCL Industries has approved a substantial investment of ₹595.17 crore to advance Phases II and III of its 130 MW solar and wind power project located in Tuticorin, Tamil Nadu. This new capital injection increases the total estimated cost for the entire renewable energy project to ₹987.17 crore, covering the remaining 80 MW capacity. Previously, Phase I, comprising 50 MW, received approval on April 13, 2026, with an estimated cost of ₹392 crore. The funding for this expansion will be drawn from a combination of debt and internal accruals.

In addition to its green energy push, NCL Industries' board has granted in-principle approval to explore the establishment of a new cement manufacturing plant in Odisha. This preliminary stage involves approaching the Odisha government for project land and initiating necessary application processes. The company emphasizes that this proposal is in its early phases, with no land allotment or binding agreements made to date. Any future decisions regarding the Odisha plant will be contingent on further evaluations and requisite approvals.