Nalco to step into bauxite mining; aims Rs 312 bn turnover

Nalco to step into bauxite mining; aims Rs 312 bn turnover

Targeting an ambitious turnover of Rs 312 billion by 2032, National Aluminium Company (Nalco) is planning to foray into chromite and bauxite mining and also to produce conductors and lithium ion batteries.

As per the new long-term corporate plan prepared by leading consultancy KPMG, Nalco should reach a turnover of Rs 181 billion with profit after tax (PAT) of Rs 16.93 billion by 2024 and Rs 312 billion and a PAT of Rs 30 billion by 2032.

Top achieve the 2024 target, the aluminium smelting capacity needs to be increased to 1.1 million tonnes and alumina refining capacity to 3.27 million tonnes.

The corporate plan also envisages backward integration to coal tar pitch and caustic soda, forward integration to extrusions, foils & castings and expanding value addition capacities in wire rods & rolled products.

The plan, developed as per the guidelines of NITI Aayog, was released by Union mines secretary Arun Kumar in the presence of Nalco’s chairman and managing director T K Chand.

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