The National Aluminium Company (Nalco) planning new capacity expansion and value addition projects which form part of its long-term plans. Revealing this at the 21st annual general meeting in Orissa recently, C Venkataramana1 chairman and managing director, said the company has drawn new five-year plan and a new vision for the next 10 years. For the purpose, advance actions have been initiated for setting up the fourth stream of alumina refinery of 5.25 lakh ton capacity and the fourth potline of 1.15 lakh ton capacity, along with corresponding increase in power plant capacity. Emphasis is being laid on capacity utilisation of existing units to achieve higher profits and adequate internal resource generation. The company will selectively undertake upstream and downstream integration projects of strategic importance. The plan also envisages collaborations and joint ventures. Meanwhile, the shareholders of Nalco, which is slated for divestment, approved a dividend of 40 per cent for 2001-2002 at the AGM. The total payout stands at Rs.25.8 billion which is 62.95 per cent of the net profit of Rs.40.40 billion. Last year too, the company had paid a dividend of 40 per cent. Venkataramana said during 2001-2002 the company turned out a record performance in almost all areas of operation.
NSTL
