NALCO plans increase in production capacity

National Aluminium Company Ltd. (NALCO), the India- based manufacturer and distributor of aluminium products plans to increase its production capacity this fiscal. The company is aiming to take its production capacity to over 73 lakh tonnes this fiscal from about 68 lakh tonnes till last financial year. The announcement was made at the company’s 37th foundation day celebration event. Speaking at the event, CMD Tapan Kumar Chand said, “During 2016-17 Nalco will surpass its production capacity of 68.25 lakh tonnes and will achieve production of 73.25 lakh tonnes.”

Additionally, during the event, an MoU was signed between NALCO and Utkal University for collaboration in R&D projects, baseline and impact assessment surveys for CSR projects along with industry-institution interaction. The company also presented various awards to achievers in different fields like rehabilitation of the differently-abled person.

Focussing on the new business model of the company, Chand said, "In 2016, NALCO had posted strong growth of 18 per cent in bauxite mining, the highest since inception and a record in the mining industry." Speaking about the shareholder value created he said, "In stock market, NALCO share price has registered an increase of 68 per cent from Rs 40.20 in the beginning of the year 2016 to Rs 67.60 as on date." The NALCO CMD also emphasised that the company, along with its efforts to achieve excellence in business is also focusing on the welfare of its stakeholders.

NALCO’s stock is currently trading at Rs 65.70 on the BSE, up Rs 0.60 or 0.92 per cent from the day's open of Rs 65.65. The stock had closed at Rs 65.05 on Friday’s trading session.