National Aluminium Company Limited (Nalco) on Monday signed a Memorandum of Understanding (MoU) with the Union Ministry of Mines, setting the production and sales target of 2013-14 fiscal. The MoU was signed at New Delhi between Union Secretary of Mines RH Khwaja and Nalco CMD Ansuman Das.
As per the MoU, the sales turnover target for the fiscal has been fixed at ` 7,757 crore, about 10 per cent higher than the current fiscal.
The aluminium major has also been given an annual production target of 60.45 lakh tonne of bauxite, 21.5 lakh tonne of alumina, 4.05 lakh tonne of aluminium and power generation of 6,341 million units.
The company would also establish a new alumina refinery in Gujarat along with addition of a new stream of 10 lakh tonne in the existing refinery based on the Pottangi bauxite deposit.
The company has also set target for the ongoing Utkal-e coal mine project and upgradation of the fourth stream of alumina refinery at Damanjodi.