NALCO plans 3.5 lakh tonne aluminium output this fiscal

State run aluminium major, the National Aluminium Company Ltd (NALCO) has set a target to produce 3.5 lakh tonne of aluminium in the current financial year as per the MoU signed with the Ministry of Mines.

The navaratna firm also aims to produce 21.50 lakh of alumina during the reporting period. These entire production targets have been set under the very good criteria of the agreement.

Similarly, the company has been given a target of around INR 8,200 crore of sales turnover this fiscal with INR 1,800 crore of gross operating margin during this period.

As per the MoU, the aluminium company has a capital expenditure target of INR 900 crore in FY16.

On the required assistance from central government, NALCO has sought re-allotment of Utkal-E coal block under PSU quota. It has also sought allocation of coal block for its Sundargarh smelter and power project and its proposed new project in Madhya Pradesh under government dispensation route.

“Enhancement of coal linkage to 7.67 million tonne through long term coal linkage committee against existing coal linkage of 5.69 million tonne has been sought,” the MoU document said.

Similarly, the company has also sought assistance from the state government for mining lease of Pottangi bauxite deposit in favour of the company to ministry of mines for prior approval by the centre.

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