The State-owned aluminium producer Nalco aims over three-fold increase in its turnover to Rs 25,000 crore by 2020.

The Bhubneswar-based company in a MoU with the Ministry of Mines for 2013-14 said its gross sales is projected to go up to Rs 7,282 crore in 2012-13 from Rs 6,927 crore achieved a year earlier.

According to the MoU, Nalco hopes to clock Rs 7,757 crore gross sales in the current fiscal.

The company is yet to announce its financial results for FY2012-13.

Nalco has set a target for production of aluminium and alumina at 1.7 million tonnes (MT) and four MT, respectively by 2020.

One of the objectives of the company is also to transform itself from being only an “aluminium producer” to a metal producer and energy provider.

It also plans to venture into two new fields of activity beyond aluminium by 2016 and enter into joint venture pacts with domestic and foreign clients to develop long-term relations.

The company aims to invest Rs 1,053 crore during the current fiscal.

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