State-owned National Aluminium Company Limited (NALCO) today said it has set a 15 percent higher target of Rs 9,350 crore revenues from operations in the current fiscal. The CPSE has inked an MoU with the Ministry of Mines in this regard, which also includes a capex plan of Rs 1,100 crore for the current fiscal.
"Aluminium major and Navratna CPSE NALCO has signed MoU (memorandum of understanding) with the Ministry of Mines, setting highest ever target of Rs 9,350 crore revenue from operations for FY2018-19 which is 15 percent higher than last year," NALCO said in a statement.
Under the MoU, the company has also set a capex target of Rs 1,100 crore for the year 2018-19, it said.
"The MoU has also set a target of 2.1 million tonnes for production of Alumina with 100 percent capacity utilisation and an optimum Aluminium production target of 4.15 lakh tonnes.
"It also 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 said.