Nalco's Capex zooms 283% from Rs 2.82 bn in FY15 to Rs 10.81 bn in FY18

Nalco is adding the fifth stream to its Damanjodi refinery in south Odisha's Koraput district

At a time when corporates are scaling back on their capital spends, National Aluminium Company (Nalco) has bucked the trend. The central PSU’s Capital expenditure (Capex) has jumped by 283 per cent from Rs 2.82 billion in 2014-15 to Rs 10.81 billion in 2017-18.

According to India Ratings & Research, a ratings agency, slow Capex growth of corporates is due to weak domestic consumption demand, global overcapacity and negative impact of the Goods & Service Tax (GST) on working capital. The agency has forecast a decline in Capex over FY18 to FY20 for leveraged sectors like infrastructure, metals & mining