Upbeat over a 94 percent jump in net profit, National Aluminium Company Limited (NALCO), has lined up projects with an investment of about Rs 25,000 crore, three of which will be inaugurated on Friday.
The aluminium major will dedicate three major projects readied at a total cost of about Rs 660 crore, to the nation, during its upcoming foundation day celebrations, CMD of the Navaratna company, T K Chand told reporters here today.
Union Minister for Mines Narendra Singh Tomar and Union Petroleum Minister Dharmendra Pradhan would inaugurate the South Block Bauxite mines, Panchpatmalli, 18.5 MW power unit at alumina refinery, Damanjodi and "first of its kind" Nanotechnology-based defluoridation plant at Angul on January 5, he said.
While Panchpatmalli south block bauxite mines with a project cost of Rs 600 crore has a capacity of 3.15 million tonnes per year, the power unit readied at a cost of Rs 43 crore would reduce dependence on grid besides augmenting generation capacity, the CMD said.
Describing the Nanotechnology-based defluoridation plant built at a cost of Rs 16.69 crore as unique, he said it makes NALCO the first company to adopt and commercialise the Emrion technology, globally and plans to extend use of the technology in various drinking water projects in fluoride endemic areas.
Stating that NALCO was working on a new business model to expand its aluminium, alumina and power capacities, Chand said the alumina refinery at Damanjodi is all set to go for an expansion with an investment of over Rs 5,540 crore.
The project, aimed at increasing the capacity of the alumina refinery by one million tonne, is likely to be commissioned by 2020, he said.
Setting a target to join the club of million tonne producers of aluminium by 2020, NALCO is gearing up to undertake brownfield expansion of its smelter at Angul with an investment of around Rs 12,000 crore, the CMD said, adding, the expansion would raise production capacity of the smelter by 6 lakh tonne per annum.
Efforts are also being made for early commissioning of Utkal D & E coal blocks involving a project cost of Rs 534 crore, the CMD said.
With an emphasis on value addition, NALCO is setting up an alloy wire rod plant with an investment of around Rs 131 crore, he said, adding, that an aluminium park is being set up at Angul at an investment of Rs 100 crore to promote ancillary industries.
Similarly, a 2.7 lakh tonne per annum capacity caustic soda plant is being set up in Gujarat involving a project cost of Rs 1,999 crore, while the required steps have been initiated for setting up 2 X 660 MW power plants in Odisha, he said.
Chand said that NALCO has achieved 100 percent capacity utilisation of bauxite mines as also 100 percent normative capacity of alumina refinery while speaking about the performance of the company in 2017.
The company reported a 94 percent growth in net profits in the second quarter of 2017-18 at Rs 235 crore, as against Rs 121 crore in the corresponding quarter of the previous fiscal, the NALCO CMD said.
Similarly, revenues jumped to Rs 4,179 crore in first half 2017-18 from Rs 3,224 crore in the previous year, he said.
Post implementation of GST, NALCO's net gain was around Rs 100 crore due to rationalisation of taxes, which the company has passed on to customers in terms of Rs 3,000 discount per ton of aluminium, he said.