Nalco inks MoU with ministry of mines

The MoU has also set 100 percent targets for production of both bauxite and alumina

GN Bureau | June 14, 2017


#Nalco   #CPSE   #MoU   #PSU  

Navratna CPSE National Aluminium Company Limited (Nalco) has signed an MoU with the ministry of mines, setting higher targets in production, productivity, turnover and CAPEX for current FY 2017-18 fiscal. The MoU was formulated as per the new department of public enterprise guidelines and finalised after discussions with both Inter-Ministerial committee as well as ministry of mines.

As per the agreement, the target for revenue from operations has been fixed at Rs 8,100 crore which is Rs 700 crore more than previous fiscal. The MoU has also set 100 percent targets for production of both bauxite and alumina i.e. 6.825 million tonnes and 2.1 million tonnes respectively.

Aluminium production target is set at 4.4 lakh tonnes as compared to the previous fiscal. The targets are an all-time high for the company and are expected to push the profitability of NALCO despite increase in expenses on account of enhanced electricity duty, employee wage revision and power and fuel oil.

The company has a CAPEX target of Rs.1158 crore against Rs.873 crore achieved in 2016-17. The expenses are to be incurred in several new and ongoing projects like the 1 million tonne refinery, Utkal-D&E coal blocks, solar and wind power projects, modernization and up- gradation of Plant & equipments.
 

Comments

 

Other News

On a personal note: Javed Jaffrey

After his much-appreciated debut in Meri Jung in 1985, Javed Jaffrey inspired a new generation of dancers. He then turned from dance to comedy. The versatile actor constantly changes his styles and his live, film, TV and radio appearances always promise novelty and surprise. In 2014 he joined the Aam A

Allegations against CJI: Inquiry will strengthen the independence of the judiciary

Yes, we must stand rock solid with the judiciary and the judges. We must protect the independence of the judiciary too. What does this mean in the present context of a very serious charge of sexual harassment levelled by a former employee of the court against the CJI?  We are told that there is a larg

“Managing data is challenging”

The Centre for Railway Information Systems (CRIS) is a society set up by the railways ministry in July 1986 to provide IT related services to the Indian Railways. CRIS deals in a gamut of functions, like passenger ticketing, freight operations, train dispatching and control, crew management, e-procurement,

A boost to those who need it most

What are 600 million people? Almost twice the population of the US. What are 500 million people? About three-fourth of the population of Europe. Why are we talking about these numbers? Well, because as per a study by Sandhya Krishnan and Neeraj Hatekar (‘Rise of New Middle Class in India and Its

Expanding Eureka!

Abright yellow van with figures of children playing with a whirligig, a Newton’s cradle, a magnetic compass rolls into the Government Higher Primary School in Kittaganahalli, on the outskirts of Bengaluru. Students in the playground leave what they are doing and mill about it in excitement. For they

The spark in the classroom

Not many children dream of starting an idyllic school of their own when they grow up. But Ramji Raghavan, founder of the Agastya International Foundation – which fosters the creative learning of science in stude



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter