Nalco firms up capex for current financial year
KOLKATA (miningweekly.com) – Indian government-owned aluminium producer National Aluminium Company Limited (Nalco) has set a capital expenditure (capex) target of $164-million for the 2018/19 financial year.
According to an agreement signed with the Mines Ministry, the capex will be increasing on adding a one-million-ton-a-year fifth stream at its alumina refinery, development of the Utkal D&E captive coal blocks, wind power projects and upgradation of existing plant and equipment.
On the production side, Nalco has committed to achieve an alumina production target of 2.1-million tons, or about 100% of its installed capacity and aluminium metal production of 415 000 tons, also 100% of its smelting capacity and commitment to reduce its net carbon consumption.
The higher production target will enable the metal major to achieve its highest ever revenue earnings of $1.395-billion, as projected in its agreement with the Mines Ministry.
Outside the purview of its commitment to the Mines Ministry, the Nalco management has evolved a long-term strategic corporate plan to 2032.
In the first seven-year phase, Nalco aimed to ramp up revenues to $2.71-billion and to $4.66-billion over the subsequent phase until 2032, company sources said.
Other Nalco projects on the anvil also include a 600 000 ton-a-year brownfield expansion of its smelters located in eastern province of Odisha, a greenfield smelter construction of 600 000 t/y capacity also in Odisha, a 1 320 MW captive thermal power plant and a cluster for manufacturing downstream aluminium rolled products, foils, wheels and extrusions.
It also proposed a joint venture with steel producer, Neelachal Ispat Nigam, for setting up a coal tar pitch plant for its own consumption.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation