National Aluminium Company (Nalco) has in principle secured supply of all important raw materials like bauxite, limestone, coal and caustic soda from Gujarat government for its proposed one lakh tonnes a year alumina project in Gujarat. Government is likely to provide raw materials through two state-promoted outfits for the proposed Rs 4,500 crore (first phase) refinery project in the state.
The company is entering into joint venture with Gujarat Minerals Development Corporation (GMDC) for this upcoming project, where it will be holding majority stake and GMDC will hold a minority stake between 10% and 26%. Apart from providing bauxite 3 million tonnes per year, GMDC will also supply coal (lignite) and limestone.
NALCO, which started its commercial operations in 1987 has been earning profits consistently and has been declaring dividends since 1992. Since its inception, the company has paid Rs 4171.25 crore as dividend including Rs 3637.16 crore to Government of India. In addition, the company had also repaid an amount of Rs 644.31 crore to its shareholders during 1999 by reducing the capital base by 50%.
| Company Name | CMP |
|---|---|
| National Aluminium | 437.00 |
| Maan Aluminium | 144.80 |
| Arfin India | 95.60 |
| Manaksia Aluminium | 32.15 |
| PG Foils | 208.65 |
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