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NALCO inks MoU with Government of India for FY 2018-19

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Aluminium & Navratna CPSE 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 Gopishankar Mukim, Secretary, Ministry of Mines, GoI and Dr. Tapan Kumar Chand, CMD, Shri Mukim, Secretary, Mines complimented 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 guidelines and finalized after discussions with both as well as

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 The targets will enable the company to synchronize its workforce and skill set in line with the new corporate plan.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 15 2018. 10:55 IST
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