NALCO inks MoU with Ministry for Higher Production & Sales
Bhubaneswar, 22/03/2014: National Aluminium Company Limited (NALCO) has signed an MoU with the Ministry of Mines, Govt. of India regarding financial and non-financial targets for the FY 2014-15. The MoU was signed between Dr. Anup K Pujari, IAS, Secretary, Ministry of Mines and Shri Ansuman Das, CMD, NALCO, in the presence of Shri R. Sridharan, IAS, Additional Secretary, Shri Arun Kumar, IAS, Joint Secretary and other officials of Ministry & NALCO in New Delhi, yesterday. As per the MoU the net sales turnover target has been fixed at Rs.6,925 crore. As regards physical performance, NALCO has an annual production target of 68.25 lakh tonnes of bauxite, 21.65 lakh tonnes of alumina, 3.15 lakh tonnes of aluminium and power generation of 5001 million units.
Regarding new initiatives, the proposed major milestones would be new wind power plant of 100 MW capacity at any suitable location in the Country and commissioning of roof top solar power project at its Corporate Office, Bhubaneswar. It may be mentioned that NALCO has set a target of 70% utilisation of fly ash generated by its Captive Power Plant at Angul. Besides, as an austerity measure, NALCO has targeted 5% reduction in administrative expenditure in FY 2014-15 over previous year.
As part of its Corporate Social Responsibility activity, NALCO shall continue to provide free education in residential schools to tribal children of peripheral villages of Mines and Refinery Complex.