Page 5 - Nalco

Nalco to set up high-end aluminium alloys plant

National Aluminium Company (Nalco) is mulling to set up a high end aluminium products plant by availing technology from foreign suppliers. The project is planned keeping in view the future applications of aluminium metal in bullet trains, aerospace and electric vehicles."The technology for high end aluminium products plants is not available in India. So, we are in talks with potential suppliers in USA and Russia to avail their technologies. If we get the right technology, our proposed plant may come up within the aluminium park at Angul or somewhere closer to the site", said T K Chand, chairman & managing director, Nalco.The aluminium park is being developed jointly by Nalco and state owned Odisha Industrial Infrastructure Development Corporation (Idco). For the downstream park, 240 acres of land has been acquired.Nalco has floated an Expression of Interest (EoI) to select the technology supplier.Use of aluminium as the preferred metal in electric vehicles can cut down on ...

NALCO lines up 3 projects, invests Rs 250 bn

The aluminium major will dedicate three major projects readied at a total cost of about Rs 6.6 bn, to the nation, during its upcoming foundation day

Nalco Q2 net profit surges 94% to Rs 235 crore

Buoyant market, focus on cost reduction drive profitability

GMDC, NALCO drop Rs 5,400 cr alumina refinery project in Kutch

After years of negotiations and feasibility studies, state owned Gujarat Mineral Development Corporation Ltd (GMDC) and central public sector undertaking (PSU) National Aluminium Company Limited (NALCO) have decided to drop the Rs 5400 crore alumina refinery.In its 54th annual report for the year 2016-17, GMDC stated that, citing unviability of the project, NALCO has asked the state PSU to drop the project. A joint venture between GMDC and NALCO with the former having a 26 per cent stake, the alumina refinery was supposed to come up as part of the Rs 15000 crore aluminium park in Kutch being set up by the state government.As per GMDC, the detailed project report (DPR) prepared by NALCO found the 500,000 tonnes per annum (tpa) plant "unviable". "Land required for the project has been allocated by Government and part possession has been taken. Process for obtaining possession of remaining portion of land also is under progress. DPR for 500,000 tonnes per annum (tpa) plant got prepared .

Nalco rolls out new value added product

Commercial production of the alloy was started on July 24, 2017

Nalco Q4 net profit rises 25% to Rs 268 crore

The company had posted standalone profit of Rs 214 crore in the corresponding quarter of FY16

Nalco's revenue pegged at Rs 8,100 crore in FY18

State run aluminium major National Aluminium Company Ltd (Nalco) has signed a memorandum of understanding (MoU) with the Union ministry of mines, setting higher targets in production, productivity, turnover and Capex for 2017-18.As per the pact, the target for revenue from operations has been fixed at Rs 8100 crore (net of excise) which is Rs 700 crore more than the previous year.Nalco has also set 100 per cent targets for production of both bauxite and alumina i.e 6.825 million tonnes and 2.1 million tonnes respectively.Aluminium production target of Nalco is set at 0.44 million tonnes for 2017-18.The MoU was signed between Arun Kumar, secretary, Ministry of Mines and Tapan Kumar Chand, Nalco's chairman & managing director.The targets are an all time high for the company and is expected to push the profitability of Nalco despite increase in expenses on account of enhanced electricity duty, RPO (renewable purchase obligation), employee wage revision and power & fuel oil, the ..

Govt successfully divests 10% in Nalco; raises nearly Rs 1,300 cr

The government has successfully divested 10 per cent stake in National Aluminum Company (Nalco) to mop up nearly Rs 1,300 crore.A total of 193.3 million shares (including the greenshoe option) were put on auction through the offer for sale (OFS) route. The share sale received bids for 255 million shares. On Thursday, 71.22 million shares meant for retail investors were auctioned. The retail demand was three times more than shares on offer. The non-retail portion was subscribed on Wednesday. It got bids for 142.4 million shares as against 96.6 million on offer.The base price for the OFS was set at Rs 67. Most of the bids came around the base price. Retail investors were offered an additional five per cent discount on the base price. Shares of the Nalco on Thursday ended at Rs 67.75.Following the share sale, the government's stake in Nalco will fall from 74.58 per cent to 64.58 per cent.In the non-retail segment, most of the bids come from state owned institutions including Life ...

Correction in Nalco an opportunity for investors

The government kick-started its FY18 divestment process with up to 10 per cent stake sale in National Aluminium Company Limited or Nalco, on Wednesday. With the floor price set at Rs 67 a share compared to the stock's closing price of Rs 73.45 on Tuesday, it is not surprising that the stock Nalco fell seven per cent on the bourses. Moving forward, though near-term pressure due to geo-political events could put pressure on base metal prices, the longer-term outlook remains firm. And now, with divestment behind, the road ahead looks good for the company.Nalco has seen strong turnaround in its prospects with base metal prices rallying on the London Metal Exchange (LME) during the last 15 months. As per tonne prices of aluminium surged from sub-$1500 on the LME at the start of 2016 to about $1960 last month-end, Nalco's stock price has rallied from lows of Rs 31.6 to highs of Rs 79.85 during this period. Prices on alumina (a key ingredient to make aluminium), too, have improved and at ...

Nalco share sale fully subscribed

OFS gets demand worth Rs 954 crore from non-retail bidders

Nalco stake sale oversubscribed 1.63 times, scrip dips 7.7%

Nalco scrip touched a low of Rs 67.75, down 7.76% over previous close on the BSE

Nalco may invest Rs 900 cr on wind power facility in Odisha

Firm signs pact IIT-Bhubaneswar

Piyush Goyal inaugurates four wind power plants

The plants, unveiled in Bhubaneswar, are located in Rajasthan (two plants), Maharashtra and AP

Nalco readies Rs 25,000-crore investment for expansion

The share price, face value of Rs 5, has more than doubled in the past

Nalco set to join one million tonne aluminium club in 3 yrs

National Aluminium Company (Nalco) is all set to join the club of one million tonne aluminium producers by 2020. The company has lined up over Rs 20,000 investment to ramp up its aluminium, alumina and power capacities.Among the major aluminium producers in the country, Hindalco and Vedanta have metal capacities of over one million tonne.Nalco's aluminium smelter at Angul can now produce optimum of 0.46 million tonne per annum. The company plans to put up a new pot line to its existing facilities which will boost the aluminium making capacity to over one million tonne."A fifth pot line with capacity to produce 0.6 million tonnes of aluminium will be added to the existing four aluminium smelting pot lines at Angul. The cost of the project is pegged at Rs 12,000 crore. Though normally, such work would take 3.5 to 4 years to complete, we are trying to complete it within 3 years", said a top official of Nalco.Down the line, the company has initiated steps to augment its power generation ..

Nalco eyes profitability from aluminium operations by FY19 end

National Aluminium Company (Nalco) hopes to turn in profit from its aluminium business towards the end of 2018-19 after commencement of coal mining from its captive Utkal D coal block."With the starting of coal production from Utkal-D and Utkal-E blocks, the power cost will plunge which will make the aluminium business more profitable. We are hopeful that the production from Utkal-D block will start in two years", T K Chand, chairman cum managing director of Nalco told Business Standard.Power cost accounts for 40 per cent of aluminium production. Despite being the lowest cost producer of alumina in the world, steep power cost was constraining Nalco's ability to be cost effective in aluminium production. Nalco's production cost of the hot metal hovers around $1450 per tonne. On the contrary, Nalco's private sector rival Vedanta reported an average aluminium production cost of $1429 per tonne with its Jharsuguda smelter achieving even a lower production cost of $1388 a tonne. Vedanta, ..

Nalco logs highest ever bauxite output, production up 17%

It achieved a volume of 6.56 million tonne in April-February period of this fiscal

Nalco to buy 80% power from proposed JV plant

The power plant, estimated to cost Rs 14,000 crore, is being set up by Nalco jointly with NTPC

Nalco Q3 net dips marginally to Rs 144 cr

However, company posts 30% dip in profit to Rs 400 cr for 9 months ended December 2016

Nalco logs 18% growth in bauxite output in 2016

This is the highest growth for Nalco since inception and also a record in the mining industry