Last Updated :
17 March 2010 at 23:15 IST
NALCO hikes aluminium price in India
MUMBAI (Commodity Online): India’s state-run National Aluminium Co Ltd has hiked prices of its aluminium products for the domestic market by Rs 2,000 per tonne.
NALCO sells aluminium and alumina in the local and foreign markets. The company said it has increased the prices of all aluminium products because the LME aluminium prices have risen.
Aluminium prices on the LME traded at USD 2,249 a tonne on Tuesday, up 13.6% from the year’s low at $1,980 on February 5 on improving demand for the metal.
Meanhwile, NALCO has set its eye to emerge as a reputed global company in the metals and energy sector with a turnover of Rs 25,000 crore by 2020.
The company said it is confidant of achieving Rs 25,000 crore turnover by 2020 with brown field expansion of the existing plants, proposed green field expansions both inside and outside the country, diversification into power sector and acquisition of mines abroad.
The Company is working on a plan to debottleneck its operations through globalisaiton through acquisition of downstream production facilities, smelting in low energy cost regions and acquisition of coal and other mines. For this the company plans to float a subsidiary, Nalco International.
The company also has been aggressively expanding its capacities in its mines, refinery, smelter and captive power plant. For the second phase expansion to be completed in a couple of months, a CAPEX of around Rs 4400 crore was fully funded by internal accruals.
As the vision plan, the company is to invest around Rs 58,000 crore from this fiscal till 2019-20 to implement several projects including third phase expansion (Rs 6980 crore).
The third phase expansion will increase its capacity from 4.6 lakh TPY to 6.4 lakh TPY, alumina refinery strength from 21 lakh MT to 29.75 lakh TPY, bauxite mining from 63 lakh TPY TO 89.25 lakh TPY and captive power plant from 1200 MW to 1700 MW.
At the end of the Plan period, net profit after taxes is projected to reach Rs 5440 crore from Rs 1270 crore at the end of March 2009 and the net worth is projected to reach Rs 43200 crore, from Rs 9770 crore.
MCX COTTON 29 mm 31 May 2012
contract was trading at
Rs 18750 , down Rs. -130 . What's your view on it?
After reading this article, people also read:
