Despite the aluminium sector facing a sluggish market worldwide, the Nataional Aluminium Company (Nalco) has been successful in maintaining its production and profitability.
By the end of Q3, the National Aluminium Company (Nalco) has recorded bauxite cumulative production of 45.74 lakh tonnes with a growth of 6.27 per cent over the corresponding period of last year. Similarly, it has registered a 39 per cent growth in Profit after Tax in Q2 over Q1.
Nalco CMD Tapan Kumar Chand stated this while greeting employees of the company and people of the country on the occasion of 67 th Republic Day observed on Tuesday.
He said the production is likely to increase to 63 lakh tonnes with a growth of 10 per cent. Similarly, in production of Alumina Hydrate, there is likely to be a growth of 2.6 per cent, in Aluminium 14 per cent and Net Power 14 percent by the end of this fiscal.
“The Nalco collective is determined to make a difference with other industry peers by remaining afloat with profitability and augmenting production by declaring the last quarter January-March as production months. While productivity and profitability are in focus, we should not lose sight of cost saving measures,” he said.
The Nalco has already formed a Joint Venture Company with Gujarat Alkalies and Chemicals limited for a Caustic Soda Plant at Dahej in Gujarat. We are also exploring the opportunity to set up a greenfield aluminium smelter abroad, where energy would be available at a competitive price. The company has started discussions with Iran, Oman, Qatar and Indonesia in this regard, he said.
The Nalco has a plan to invest to the tune of Rs 30,000 crore in next five years, out of which Rs 6,000 crore would be invested in Refinery Project in Damanjodi. Similarly, Brownfield project of Smelter and Power Plant of Rs15,000 crore and Utkal D & E Block development around Rs1,500 crore along with Titanium Slag project and Angul Aluminium Park are in pipeline. The company is planning to send a team to Middle-East countries to study world class aluminium upstream and downstream units in Emirates and Dubai Aluminium Parks for developing the blue print.
The Nalco has committed an additional expenditure of Rs 300 crore towards CSR in the tribal belt of Koraput, as well as Angul and other parts of the State, besides 2 per cent of its net profit, he said.