NALCO TO PRODUCE 2.90 LAKH TONNES ALUMINIUM IN 2003-04

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National Aluminium Company Ltd. (NALCO)'s 2003-04 Memorandum of Understanding (MoU) with the Mines Ministry envisages that the company will produce 15.70 lakh tonnes of alumina and 2.90 lakh tonnes of aluminium metal during the next financial year as against the targets of 15.60 lakh tonnes of alumina and 2.37 lakh tonnes of aluminium for the current fiscal. The MoU was signed today by Dr. A.K. Kundra, Secretary, Mines and Shri C. Venkataramana, CMD, NALCO. A public sector unit of the Union Ministry of Mines, NALCO has undertaken to sale almost all its products in the domestic market and abroad. In the previous MoU it set a target to export 10.75 lakh tonnes of Alumina and 1.17lakh tonnes of Aluminium metal. It envisaged a sale of 1.2 lakh tonnes of aluminium in the domestic market.

NALCO in Orissa is India's largest integrated aluminium plant. In the last three years it has undertaken ambitious expansion projects at a total cost of over Rs. 4000 crores involving expansion of bauxite mines, alumina refinery, captive power plant and aluminium smelter. The authorized capital of the company as on date is Rs. 1300 crore and the paid up capital is Rs. 644.31 crore.