BHUBANESWAR: National Aluminium Company (Nalco), the lowest cost alumina producer in the world, is bullish on the demand prospects after beating market estimates with a five-fold rise in quarterly profit. To cater to the demand for aluminum in power sector, especially power transmission, the State-run company laid the foundation stone of an alloy wire rod manufacturing facility at its smelting unit in Angul on Friday. Estimated at `131 crore, the facility envisages an installed capacity of 40,000 tonne per annum of alloy grade material.
The foundation stone for the new facility was laid by Union Mines Secretary Anil Mukim through video conferencing at a function held here on the day.“Nalco has become the pride of India in non-ferrous sector and the cost focus of the management has given the company recognition as the lowest cost producer of alumina in the world,” said Mukim. Speaking on the occasion, Nalco CMD Tapan Kumar Chand said, “The per capita aluminum consumption in India is only 2.2 kg against the world average of seven kg and 20 kg of China. Our country, as the fastest growing economy in the world, is set to witness a quantum jump in aluminum consumption in next two to three years.”
Chand further said the company plans to invest `20,000 crore over next five years to ramp up aluminium, alumina and captive power plant capacities. In case of alumina refinery, Nalco has more than 100 per cent capacity utilisation and aims to produce 50,000 tonne more than the capacity.
Union Secy reviews mining activities
Bhubaneswar: Reviewing the mining activities of the State on Friday, Union Mines Secretary Anil Mukim said the Ministry is taking all steps to remove bottlenecks for ease of doing business in the mining sector. He said more iron ore, manganese, chromite, limestone and bauxite blocks will be put on auction. Around 17-18 mines in the State are going to be auctioned, Mukim added. Issues relating to environment forest clearances and ease of doing business in the mining sector were discussed at the meeting. Among others, Additional Chief Secretary, Mines RK Sharma and Chairman-cum-Managing Director of Nalco Tapan Kumar Chand were present.