Nalco works towards achieving revenue of INR 93.5 billion from operations in FY19

National Aluminium Company (Nalco), a navratna firm under Union Mines of Ministry, sets a goal to achieve revenue of INR 93.5 billion from operations in FY19, 15 per cent higher than the previous financial year. The company’s chairman and managing director Tapan K Chand has signed off on a memorandum of understanding (MoU) with the ministry, represented by Anil Gopishankar Mukim, secretary of Union Mines Ministry on Monday, May 14, 2018.

The MoU has been formulated as per the guidelines of the Department of Public Enterprise and finalised after discussions with the inter-ministerial committee as well as the Ministry of Mines, setting a target of 2.1 million tonnes of alumina production with 100 per cent utilisation of capacity and optimum aluminium production target of 0.41 million tonnes. The MoU also sets a target to achieve improved production efficiency by eradicating net carbon consumption.

Nalco allocates a capital expenditure of INR 11 billion for 2018-19, which it would spend on its imminent projects like the fifth stream of Damanjodi alumina refinery, Utkal D & E coal blocks, wind power projects, JV projects and modernisation and upgradation of plant equipment.

Some strategic move on the human resource front has also been set in the target like, assessment of employees through People Capability Maturity Model (PCMM) and implementation of online human resource management system for enabling to synchronise the workforce and skill set in line with the new corporate plan.