The Nalco signed an MoU with the Union Ministry of Mines regarding various financial and non-financial targets for the financial year 2014-15 in New Delhi on Friday.
The MoU was signed between Secretary of Mines Dr Anup K Pujari and Nalco CMD Ansuman Das.As per the agreement, the net sales turnover target of Nalco has been fixed at Rs 6,925 crore. The company has an annual production target of 68.25 lakh tonne bauxite, 21.65 lakh tonne alumina, 3.15 lakh tonne aluminium and power generation of 5,001 million units.
Besides, the proposed major projects include setting up of a 100-MW wind power plant at any suitable location in the country and commissioning of rooftop solar power project at its corporate office in Bhubaneswar.
It may be mentioned that the Nalco has set a target of 70 per cent utilisation of fly ash generated by its captive power plant at Angul. Besides, it has also targeted 5 per cent reduction in administrative expenditure in the FY 2014-15 against previous year.