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NALCO to set up diversified projects by 2016

— Photo: Ashoke Chakrabarty

A.K. Srivastava (4th from left), CMD of Nalco flanked by other directors at the company's annual general meeting in Bhubaneswar on Friday.

BHUBANESWAR: India's Aluminium major National Aluminium Company here on Thursday said that it was targeting an annual turnover of Rs. 25,000 crore by 2020 by giving major thrust on diversification and capacity addition.

“We are trying to achieve annual production of 1.7 million tonne aluminium and 4 million tonne alumina by 2020 and transform from being only an ‘aluminium producer' to become a metal producer and energy provider,” A. K. Srivastava, Chairman-cum-Managing Director of Nalco said addressing 29th Annual General Meeting here.

NALCO CMD said the company would venture into new fields of activity beyond Aluminium by setting up at least two diversified projects by 2016 including one 1000 MW Independent Power Project.

Moreover, the company was actively considering the possibilities of setting up of smelter plants in other countries, where power was cheaply available, Mr. Srivastava said.

“Regarding setting up of an aluminium smelter in Indonesia, the company has opened a project office in Jakarta to expedite project activities. It is also planning to set up a second aluminium smelter in India and preparing mining plan for grant of mining lease over Gudem and KR Konda blocks in Andhra Pradesh for which Centre has accorded consent for grant of mining lease,” CMD elaborated. Besides, Nalco has signed MoU with Nuclear Power Corporation of India Limited (NPCIL) for establishment of a nuclear power plant in joint venture, he said.

NALCO has already signed a MoU with Industrial Infrastructure Development Corporation of Orissa to set up an Aluminium Park at Angul. The CMD of the Navaratna company said as part of sustainable development, Nalco was venturing into harnessing renewable source of energy by setting up a 50 MW wind energy farm.

Giving details of Nalco's expansion, Mr. Srivastava said the company was according thrust on both in brownfield and greenfield expansion. “In the brownfield, the company has successfully implemented second major expansion programmes with an investment of Rs. 7,800 crore, raising the bauxite mine capacity to 63 lakh tonnes, alumina capacity to 21 lakh tonnes, aluminium capacity to 4.6 lakh tonnes and power generation capacity to 1200 MW,” he said. NALCO CMD announced that the company was now ready with third phase expansion at a cost of Rs.6,000 crore which will further enhance the alumina capacity to 29 lakh tonnes, aluminium capacity to 5.7 lakh tonnes and power generation to 1,700 MW.

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