Nalco, Ministry ink pact fixing targets

BHUBANESWAR: The Nalco has set a sales turnover target of  Rs 7,073 crore for the year 2012-13. The financial target is Rs 500 crore more than that fixed for the ongoing 2011-12 fiscal. The aluminium major on Monday signed an MoU with the Union Ministry of Mines fixing the physical and the financial targets. The agreement was signed between Union Secretary of Mines Viswapati Trivedi and CMD Nalco BL Bagra. The company has projected an annual production target of 63 lakh tonne of bauxite and 21 lakh tonne of alumina hydrate from its mines and refinery complex at Damanjodi. Aluminium production from the company’s smelter has been projected at 4.50 lakh tonne and power generation at 6,842 million units from its Captive Power Plant at Angul. The MoU has underscored special weightage towards CSR, sustainable development, R&D and corporate governance. Nalco has also set targets to establish and commission nuclear power plant project in joint venture with NPCIL, a second wind power project of 50 MW capacity and a 15-MW solar power project.