The shareholders of the National Aluminium Complany ltd (Nalco) on Saturday approved a total dividend payout of 35 per cent, which works out to Rs1.75 per share, at its 34th annual general meeting held here. The total payout stands at Rs451.02 crore for 2014-15.
Since inception, the company has paid a total of Rs5356.76 crore as dividend, including Centre's share of Rs4,598.99 crore.
According to Nalco CMD TK Chand, the Central PSU, at this stage, is targeting to be a global player in the mining, metal and energy sectors and to achieve this it has plans to increase the existing metal production, alumina production and raise bauxites and coal.
"Our action plan includes increasing production, to go for expansion and modernisation of our plants and diversification of products. Further, our target is to increase our networks in the domestic as well as in the international market. A flexible plan is envisaged, which takes into account the market uncertainties of future," Chand said.
Stating that the Nalco has already got the much-needed Utkal D and E Blocks, Chand said the company needs consent of State Government for allocation of Pottangi Mines in Koraput District so that Alumina Refinery Project of Rs5,500 crore can immediately start.
Regarding new ventures, Chand said while efforts are on to make profit and maintain the Navratna status, the company is now looking beyond its existing operations to achieve a new level of corporate distinction.
The Nalco has prepared a DPR for its proposed 0.5 MTPA Alumina Refinery in Kutch district of Gujarat. Discussions are on for availing bauxite from the GMDC mines for the project.
The company has already given Rs2.6 lakh to the NPCIl-Nalco Power Company ltd, a JV, for the proposed project, Kakrapar Atomic Power Project (3&4), towards initial paid-up capital. Equity infusion would be made after the Centre approves the project in JV mode.
The Nalco has signed a JV-cum-Shareholder's agreement with the Gujarat Alkalies and Chemicals limited to set up 2.7 lakh TPA caustic soda plant along with 100 MW captive power plant at Dahej in Gujarat at an estimated investment of Rs1,789 crore.
The company has revived the MoU with the Indian Rare Earths limited for development of 1 lakh TPA titanium slag project at Chhatrapur in Odisha for which a pre-feasibility report is being prepared.
It has envisaged setting up a smelter and power complex at a cost of Rs22,000 crore at Sundargarh for which single window clearance has been sought from the State Government. Besides, the Nalco has planned to set up an aluminium part at Angul with the Odisha Government for downstream units.
Nalco has also plan to set up a greenfield aluminium smelter in a foreign country, Chand said.
CMD Chand said the company has already commissioned two wind power plants in Gandikota of Andhra Pradesh and Jaisalmer in Rajasthan. About 181 million units of electricity had been generated from these two plants in 2014-15.
These apart, the Central PSU has plans to set up a 100 MW wind power project at a suitable location in the country at an estimated investment of Rs660 crore, a 14 MW wind power project in Koraput at Rs82 crore, a 20 MW ground mounted solar power plant at a suitable place at Rs140 crore, a 40 kWp rooftop solar project att the Nalco Research and Technology Centre (NRTC) in Bhubaneswar at Rs25 lakh.
Regarding CSR activities, Chand said the Nalco is one of the few companies in India having a voluntarily board approved CSR policy and guidelines. The CSR activities have been primarily in the areas of education, health, sanitation, drinking water, communication and livelihood support.
The company earned a net profit of Rs1,322 crore in 2014-15. While it recorded highest-ever gross turnover of Rs7,771 crore, its export turnover stood at Rs3,307 crore. It produced 57.39 lakh tonnes of bauxite, 18.51 lakh tonnes of alumina hydrate and 3.27 lakh tonnes of caste metal.
Similarly, it generated 5,131 million units (MU) of thermal power, 175 MU of wind energy and 0.167 MU of solar energy during the last fiscal.
It has targeted to produce 68.25 lakh tonnes of bauxite, 21.80 lakh tonnes of hydrate alumina and 3.8 lakh tonnes of aluminium cast metal during the current fiscal. Similarly, it aims to generate 6009 MU of thermal power, 181 MU of wind power.
It has set alumina and hydrate sale target of 14.44 lakh tonnes and metal sale of 3.80 lakh tonnes.