Aluminium giant Nalco will invest over Rs 25,000 crore to launch new projects and undertake major expansion despite decline in profit due to the global recession.
“Though disinvestment has to be a government decision as it is the owner, Nalco does not figure in the list of public sector companies likely to be disinvested now,” Nalco CMD C R Pradhan told reporters. The government has not sought any comment from the Navaratna company in this connection, Pradhan said.
Despite adverse market conditions due to the global meltdown that led to fall in its net profit to Rs 1,272 crore during 2008-09 against Rs 1,632 crore in the previous year, Nalco achieved a record turnover of Rs 5,631 crore last fiscal compared to Rs 5,576 crore during previous year, he said. Nalco achieved highest ever cast metal production of 361,262 tonnes in 2008-09 against 360,457 tonnes in 2007-08, the company CMD said.
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