Bhubaneswar, Sept. 28: Navratna public sector unit National Aluminium Company Limited (Nalco) plans to invest around Rs 33,000 crore in the next three to four years in projects in the aluminium and energy sectors.
“The proposed investment will give a significant boost to the company’s productivity and profitability,” Ansuman Das, Nalco chairman and managing director, told reporters last evening after the company’s annual general meeting.
The PSU has posted a 4.75 per cent jump in net sales turnover at Rs 6,809 crore in 2012-13 against Rs 6,500 crore the previous year.
However, net profit came down to Rs 593 crore during the year from Rs 850 crore in the previous fiscal.
The company announced a total divided payout of 25 per cent, amounting to Rs 322.15 crore for 2012-13, against 20 per cent paid in the previous year.
Das said the company was planning to set up a Rs 5,500-crore aluminium refinery in Gujarat with a capacity of one million tonnes per annum. “Preparation of the detailed project report (DPR) has been taken up. Bauxite will be provided by the Gujarat Mineral Development Corporation,” he said.
It is also planning a Rs 16,450-crore smelter of 0.5 MTPA capacity and a power plant of 1,260 MW in the Sundargarh district of Odisha, he said.
Nalco has got the approval of the high level clearance authority of the Odisha government for the Sundargarh project.
“Site selection study and preliminary land survey for the proposed Sundargarh project is underway. The company is actively pursuing allocation of a coal block for the said project,” Das said.