Nalco Q1 aluminium production jumps 21%
National Aluminium Company Limited (Nalco), the country’s leading producer and exporter of alumina and aluminium, has registered a 20.46% increase in aluminium production in the 1st quarter ended June 30. Alumina production increased to 4,00,800 tonnes from 3,92,900 tonnes in corresponding quarter last year.
Power generation also increased by 14.35% to 1607 MW from 1400 MW. The company clocked sales of 93.104 MT of aluminium in the 1st quarter, which was 84,103 MT in the corresponding period of previous year. Despite the market downturn, Nalco has increased exports of aluminium to 27,995 tonnes from 12,623 tonnes in the corresponding quarter.
However according to company sources, the company’s turnover and profits have dipped due to low prices. As part of its growth strategy, Nalco has plans to set up two Greenfield projects in India, which include a Rs16,500 crore smelter and power complex at Jharsuguda in Orissa and a Rs6,000 crore mines and refinery complex in Andhra Pradesh.