NALCO targets Rs 25,000 crore turnover by 2020

Bhubaneswar, Sept 30: Aiming to become an important global player in metal and energy sectors, aluminium major NALCO was targetting a turnover of Rs 25,000 crore by 2020 with ambitious diversification and expansion plans involving an investment of Rs 40,000 crore.

"As per its Vision 2020, NALCO envisages to achieve a turnover of Rs 25,000 crore by year 2020. The company's business plan envisages an investment of about Rs 40,000 crore," NALCO CMD B L Bagra told reporters here.

In order to achieve the growth objectives, the Navaratna PSU has put in place a well framed strategy that would help it secure the "position as a reputed global company in the metals and energy sectors," he said.

Announcing a total dividend payout of Rs 257.72 crore for 2010-11, Bagra said the sum was 60 per cent higher than Rs 161.08 crore paid for the previous fiscal.

Giving details about diversification, the CMD said Nalco was exploring business opportunity in other mineral sectors like copper, gold, uranium and tiranium.

The company has already signed MoUs with Hindustan Copper Limited (HCL) and Indian Rare Earths Limited (IREL) for different diversification projects, he said.

For the first time in the country, Nalco has developed a prototype aluminium wagon in partnership with BEML, he said.

PTI