Nalco to maximise income from alumina export

According to sources, the company, taking advantage of the buoyant international alumina market, has been able to finalize the selling prices at the highest level of the contracted price bands. The export orders will be executed during January-December period of 2004.

Sources said, this is likely to result in higher realization of around Rs.30 crore during the last quarter of the current fiscal, and around Rs.85 crore in the first 3 quarters of the next fiscal at the prevailing levels of LME metal price.

Nalco targets to export about 9,00,000 tonnes of alumina during the current fiscal, against which 5,70,000 tonnes of alumina shipments have already taken place by November end, 2003.

Nalco owns and operates world's 9th largest Alumina Refinery at Damanjodi in Orissa The installed capacity of the refinery is 15.75 lakh tonnes per annum.

According to C Venkataramana, chairman cum managing director of Nalco, the company aimed to achieve a turnover of Rs 3,500 crore during the current fiscal with a growth of eight per cent over the last fiscal.

Of this exports are expected to contribute about Rs 2000 crore. The company appears to be well on course to achieve this target as it recorded a revenue of Rs 650 crore during the first quarter of the current fiscal. The net profit of Nalco stood at Rs 521 crore in 2002-03.