Nalco eyes 68.95 lakh tonnes of bauxite

The National Aluminium Company Limited (Nalco) targets to produce 68.25 lakh tonnes of bauxite and 21.50 lakh tonnes of alumina from its mines and refinery unit at Damanjodi in Koraput district during the current fiscal year. "In 2015-16, we broke all our records by producing 63.4 lakh tonnes of bauxite and 19.53 lakh tonnes of alumina at our Damanjodi unit," said chairman-cum-managing director Tapan Kumar Chand.

In the coming years, Nalco will emerge as a global player in mining, metal and energy sectors. There would be a major turnaround in the business plan of the company to meet the turbulent business environment, he added. Chand felicitated 30 outstanding achievers, including operators to assistant general managers, of mines and refinery unit with CMD Excellence Awards, which carries a cheque of INR 5,000.

The central PSU has also declared an interim dividend of 25, which is INR 1.25 a share of INR 5 each, amounting to INR 322.16 crore for 2015-16, on the paid-up equity share capital of INR 1,288.62 crore. Chand presented a cheque, amounting to INR 260.72 crore to Union steel and mines minister Narendra Singh Tomar as interim dividend on the 80.93 per cent shares held by the government of India in New Delhi on Monday.

In 2014-15 fiscal, the company had declared a total dividend of INR 451.02 crore. It may be mentioned that since inception, Nalco has paid INR 5,679 crore as dividend, including INR 4,860 crore as share of the Government of India.

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