Aluminium major NALCO has drawn up a new business plan aiming to raise its profit during 2018-19, a company statement said.
Disclosing this during a visit to the Navaratna CPSE's mines and refinery complex at Damanjodi on Monday, NALCO CMD Tapan Kumar Chand said the new business plan is acronymed 'NALCO:3-4-5', a company statement said.
The plan envisages increasing NALCO's 3-digit profit figure to four digits and four-digit turnover to five digits.
NALCO has already achieved the four-digit profit figure at Rs 1342 crore in 2017-18 and is likely to achieve more than Rs 1600 crore in 2018-19. The objective is to further increase and sustain the profit at the four-digit level, Chand said.
The company's net turnover is expected to be in five digit for the first time in 2018-19, he said adding it will be more than Rs 12,000 crore.
Under this plan NALCO will turn into a hardcore business organisation with complete focus on business excellence, he said.
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"With the emergence of the 4th Industrial Revolution, Artificial Intelligence, Internet of Things, Robotics, Augmented Reality would be the trend setters and NALCO is all set to lead this revolution.
"The new technology: Industry 4.0, will bring in substantial reduction in capital investments and Indian industries need to leverage it to remain globally competitive. NALCO is gearing up in full steam to meet this challenge," Chand said.
The NALCO CMD during his visit inaugurated the new electrostatic precipitator of boiler number 2, which has incorporated the latest technology for pollution control from the power plant.
He also laid the foundation stone for the HRD-DCW of alumina refinery which will enhance the productivity of the plant and reduce the consumption of caustic soda and inaugurated a 500-seat auditorium at Damanjodi.
Chand announced that in the near future, NALCO plans to spend around Rs 100 crore under its CSR arm in the areas of healthcare, literacy, infrastructure, water management and women empowerment in Koraput district of the state.
He also presented excellence awards to 41 employees across various levels of the organisation.