Nalco in talks for smelters abroad

Company approaches ambassadors of six countries- Indonesia, Vietnam, Malaysia, Qatar, Oman and Iran for setting up smelters overseas in JV

National Aluminium Company (Nalco), a navratna PSU under the Union ministry of mines, is in talks with six countries for setting up smelter units through joint ventures.

"Nalco has approached the ambassadors of six countries- Indonesia, Vietnam, Malaysia, Qatar, Oman and Iran for setting up smelters overseas in joint venture," said Ansuman Das, chairman cum managing director while addressing the employees of company's smelter and power complex at Angul. For the proposed alumina refinery in Gujarat, Das stated that Nalco has offered the Gujarat government 49 per cent stake to ensure its participation and commitment.

Das expressed his optimism on completion of ongoing lean slurry project at Angul site by the end of this year.

The project would solve the ash disposal problem of the company's captive power plant (CPP) by transporting ash slurry to the voids of coal mines, he added.

Nalco is also hopeful about the Utkal-E Coal project and allotment of Pottangi bauxite mines which has mineable reserve of about 70 million tonnes. The PSU had to shut down one-third pots at its Angul smelter because of the sluggish aluminium market worldwide and coal shortage.

But recently, the company has added 10 more pots to its 631 operational pots. "It's small, but significant step," said Das, urging the employees to remain prepared when things really start looking up.

"We are running profitably, while smelters worldwide are being shut down," said Das.

It may be noted, Nalco has posted its best ever foreign exchange earnings of Rs 3,719 crore in 2013-14 even as its aluminium output fell 21.58 per cent to 316,000 tonne from 403,000 tonne in 2012-13. The aluminium major went for a planned cut in metal production through shut down of around 300 out of 960 pots on lower prices on the London Metal Exchange (LME).

Nalco, however, posted its best ever performance in alumina and bauxite production. Bauxite production stood at 6.29 million tonne in FY14, 16.12 per cent higher than 5.41 million tonne in 2012-13.