National Aluminium Company Ltd (Nalco) has set the highest-ever revenue from operations target of Rs 9,350 crore in its annual memorandum of understanding with the Ministry of Mines.

An official statement said that the revenue from operations target for the financial year 2018-2019 is 15 per cent higher than that in 2017-2018.

Capital expenditure target has been set at Rs 1,100 crore for the financial year 2018-2019. “The expenses will be incurred in projects like the Utkal-D&E coal blocks, wind power projects, joint venture projects, and modernisation and upgradation of plant equipment.”

The addition of 1 million tonne per annum refining capacity through a fifth stream at the existing alumina refinery at Damanjodi in Koraput district is also supposed to share a portion of the capital expenditure. Nalco aims to add a million tonne per annum (MTPA) to its existing capacity of 2.275 mtpa

The MoU has also set a target of 2.1 mt for production of alumina with 100 per cent capacity utilisation and an optimum aluminium production target of 4.15 lakh tonnes. It has also set a target of reduction in net carbon consumption as part of improvement in production efficiency, apart from giving thrust to commercialisation of new products.

A target has also been set for assessment of employees through People Capability Maturity Model (PCMM) and implementation of online human resource management system. This target will enable the company to synchronise its workforce and skill set in line with the new corporate plan, the statement added.

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