Date | Jul 18, 2016:

National Aluminium Company has signed an MoU with Ministry of Mines, Govt. Of India regarding financial and non-financial targets for FY 2016-17.

As per the MoU, the target for revenue from operations, excluding excise duty, has been fixed at Rs 7100 crore. The MoU has also set higher targets for production of both alumina and aluminium as compared to the previous fiscal. Nalco has set an annual production target of 21.30 lakh tonnes of alumina and 3.85 lakh tonnes of aluminium. It may be mentioned that the Company has produced 19.53 lakh tonnes of alumina and 3.72 lakh toones of aluminium in 2015-16.

Nalco has also set a capex target of Rs 1021 crore, which includes projects like development of Utkal D & E Coal Blocks, wind power projects of 50 MW each in Maharashtra and Rajasthan, addition of 5th stream in the existing Alumina refinery at Damanjodi, Koraput, a 20 MW Solar Power Project in Madhya Pradesh and other modernisation activities.

(Source: http://www.business-standard.com/)