Home » Aluminium » NALCO inks MoU with Government of India for FY 2018-19  Sets 100% capacity utilization in Alumina, Rs.1100 cr CAPEX & Higher Targets in production& productivity

NALCO inks MoU with Government of India for FY 2018-19  Sets 100% capacity utilization in Alumina, Rs.1100 cr CAPEX & Higher Targets in production& productivity

 

Aluminium major &Navratna CPSE National Aluminium Company Limited (NALCO) has signed MoU with the Ministry of Mines, Govt. of India, setting highest ever target of Rs 9350 crore revenue from operations for FY 2018-19 which is 15% higher than last year. The MoU was signed between Shri Anil GopishankarMukim, Secretary, Ministry of Mines, GoI and Dr.Tapan Kumar Chand, CMD, NALCO in New Delhi last evening. Shri Mukim, Secretary, Mines complimented NALCO management for the excellent performance of the company, high standard of Corporate Governance in 2017-18 and robust business plans for 2018-19. The MoU has been formulated as per Department of Public Enterprise guidelines and finalized after discussions with both Inter-Ministerial Committee as well as Ministry of Mines.

The MoU has also set a target of 2.1 million tons for production of Alumina with 100% capacity utilisation & an optimum Aluminium production target of 4.15 lakh tonnes. It sets a target of reduction in net carbon consumption as part of improvement in production efficiency, apart from giving thrust to commercialisation of new R&D products.

The Company has set a challenging CAPEX target of Rs.1100 crore for the year 2018-19. The expenses will be incurred in several projects like the 1 million tonne 5th stream of Refinery, Utkal-D&E coal blocks, wind power projects, JV projects and modernization & up- gradation of plant equipments. In yet another strategic move on the human resource front, target is also set for assessment of employees through People Capability Maturity Model (PCMM) and implementation of online human resource management system. The targets will enable the company to synchronize its workforce and skill set in line with the new corporate plan. Dr. K. Rajeswara Rao, Additional Secretary, Ministry of Mines & Shri Anil Kumar Nayak, Joint Secretary, Ministry of Mines, and other senior officials of Ministry and NALCO were notably present on the occasion.

About Indianindustry Media

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

PM Modi announces special economic package worth Rs 20 lakh crore to kick-start economy

Prime Minister Shri Narendra Modi addressed the nation today. Recalling those who have died battling ...

Amid lockdown HIL (India ) limited eying big orders from African countries

Despite enormous logistic and other challenges posed by COVID-19 lockdown, HIL (India) limited, a PSU ...

Road Ministry launched dashboard containing list of Dhabas and Truck Repair Shops on its website

The Ministry of Road Transport and Highways (MoRTH) has created a dashboard link on its ...

NALCO gets Mining Lease for Utkal-D Coal Block

 National Aluminium Company Limited (NALCO), the Navratna CPSE, and one of leading producer of alumina ...

CCI approves Joint Venture between Adani Green Energy Limited and Total S.A. in power generation through solar energy in India

The Competition Commission of India (CCI) approves formation of Joint Venture between Adani Green Energy ...

34 lakh transactions effected through POSB and 6.5 lakh transactions through IPPB till date during lockdown period

 During the lockdown period as on 31.03.2020, 34 lakh transactions were effected through POSB (Post ...

NALCO clocks all time high production of bauxite and alumina amidst corona crisis

National Aluminium Company Limited (NALCO), the Navratna CPSE, under Ministry of Mines, Govt. of India ...

IIM INDORE Final Placement 2020

 Indian Institute of Management, Indore (IIMI) has successfully completed the campus placements of Post Graduate ...

Mobile Phone Security should be a National Priority: Shri Ravi Shankar Prasad

5G Spectrum will be given for trial to all operators; We need to make UPI ...

Consumer Price Index Numbers on Base 2012=100 for Rural, Urban and Combined for the Month of November 2019

The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation is releasing CPI (Rural, ...

WP2Social Auto Publish Powered By : XYZScripts.com