Aluminium major & Navratna CPSE National Aluminium Company (NALCO) has signed MoU with the Ministry of Mines, Govt. of India, setting highest ever target of Rs 93.50 billion revenue from operations for FY 2018-19 which is 15% higher than last year.
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 11.00 billion 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 online human resource management system. The targets will enable the company to synchronize its workforce and skill set in line with the new corporate plan.