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Nalco to invest Rs 25,000 crore despite profit drop

22 Sep 2009 Evaluate

Allaying apprehension about its disinvestment, aluminium giant National Aluminium Company (Nalco) is all set to invest over Rs 25,000 crore to launch new projects and undertake major expansion despite decline in profit due to global recession.

 

Despite adverse market conditions due to global meltdown that led to a fall in its net profit to Rs 1,272 crore during 2008-09 against Rs 1,632 crore in previous year, Nalco achieved a record turnover of Rs 5,631 crore last fiscal compared to Rs 5,576 during previous year. Posting 100 per cent capacity utilisation in Alumina Refinery and Smelter, Nalco achieved highest ever cast metal production of 361,262 tonnes in 2008-09 against 360,457 tonnes in 2007-08.

 

On new domestic projects, besides a Rs 6,000 crore alumina refinery in Andhra Pradesh, the company plans to set up a 5 lakh tonne smelter plant and 1,250 Mw power unit in Orissa's Jharsuguda district at an investment of more than Rs 16,000 crore.

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