Bhubaneswar, Sept 30: Aiming to become an important global player in metal and energy sectors, aluminium major NALCO was targetting a turnover of Rs 25,000 crore by 2020 with ambitious diversification and expansion plans involving an investment of Rs 40,000 crore.
"As per its Vision 2020, NALCO envisages to achieve a turnover of Rs 25,000 crore by year 2020. The company's business plan envisages an investment of about Rs 40,000 crore," NALCO CMD B L Bagra told reporters here.
In order to achieve the growth objectives, the Navaratna PSU has put in place a well framed strategy that would help it secure the "position as a reputed global company in the metals and energy sectors," he said.
Announcing a total dividend payout of Rs 257.72 crore for 2010-11, Bagra said the sum was 60 per cent higher than Rs 161.08 crore paid for the previous fiscal.
Giving details about diversification, the CMD said Nalco was exploring business opportunity in other mineral sectors like copper, gold, uranium and tiranium.
The company has already signed MoUs with Hindustan Copper Limited (HCL) and Indian Rare Earths Limited (IREL) for different diversification projects, he said.
For the first time in the country, Nalco has developed a prototype aluminium wagon in partnership with BEML, he said.
Nalco has also taken action to enter the energy sector as an Independent Power Producer (IPP).
It plans to develop Kakarpar 3 and 4 nuclear power project in Gujarat jointly with Nuclear Power Corporation of India Ltd (NPCIL) with an estimated project of Rs 11,450 crore, Bagra said.
Nalco was also planning to come up with power plants in the country either through participation in the bidding process for ultra mega power project (UMPP) or in joint venture with other companies having coal blocks, he said.
As part of its green initiatives, Nalco was setting up a 50.4 mw wind power plant at Gandikota in Kadapa district of Andhra Pradesh with an investment of Rs 274 crore, Bagra said adding tenders were being floated for another such plant.
In addition, the company was also exploring opportunity to set up a solar power plant at a suitable location in the country, he said.
On the company's performance, Bagra said Nalco earned a net profit after tax of Rs 1,069 crore during 2010-11 as compared to Rs 814 crore in the previous fiscal, registering a jump of 31 per cent.
He said sales revenue during the year at Rs 5,959 crore was higher by Rs 904 crore, an increase of 18 per cent as compared to the previous year.
Stating that NALCO achieved highest-ever domestic metal sale of 340,752 tonnes surpassing the previous record of 289,032 tonnes in 2009-10, he said it was 17.9 percent higher than last year.
Total metal sale of the company in 2010-11 was 438,952 tonnes, which is the highest-ever, surpassing previous best of 435,979 tonnes achieved during the previous year, he said.
On production front, Nalco's aluminium smelter and captive power plant at Angul recorded the highest ever production in 2010-11.
The level of capacity utilisation at mines was 100.5 per cent with a production of 48.24 lakh tonnes, alumina refinery was 98.8 per cent with 15.56 lakh tonnes, aluminium smelter was 96.4 per cent with 4.44 lakh tonnes and CPP was 91.7 per cent with 6608 units, Bagra said.
Referring to expansion projects, Bagra said all segments of 2nd phase expansion had been commissioned. The facilities commissioned as part of 2nd phase expansion at Alumina Refinery are under stabilisation.
The upgradation of 4th stream of Alumina Refinery from 0.525 million tonnes to 0.70 million tonnes and that of Bauxite Mines from 6.3 million tonnes to 6.825 million tonnes, at an estimated project cost of Rs.409 crore, is scheduled to be commissioned by June, 2012, the CMD said.
Upgradation of smelter potlines from 180 KA to 220 KA at an estimated investment of Rs.1500 crore for both smelter and captive power plant is under implementation. On completion of the project by 2017, capacity of the smelter plant would go up by one lakh tonnes per year, he said.
Nalco has been allotted Utkal-E Coal Block in Angul district of Orissa with estimated reserves of around 70 million tonnes which shall cater to the requirement of 9th
and 10th Units of CPP. The project is estimated to cost Rs.280 crore. The coal block is likely to become operational in 2012, Bagra said. PTI
