Navratna firm Nalco target 15% rise in FY19 revenue at Rs 93.5 bn

Enters MoU with mines ministry, targets 2.1 mn tonnes alumina output with 100% capacity utilisation & an optimum aluminium production target of 0.41 mn tonnes

National Aluminium Company (Nalco), a navratna firm under Union mines ministry, has set a target of Rs 93.5 billion revenue from operations in this fiscal, 15 per cent higher than the previous fiscal.

Nalco entered into a memorandum of understanding (MoU) with the ministry on Monday. The pact was signed by Anil Gopishankar Mukim, secretary, Union mines ministry and Tapan K Chand, chairman & managing director, Nalco.

The MoU has been formulated as per the Department of Public Enterprise guidelines and finalised after discussions with the inter-ministerial committee as well as Ministry of Mines.

The MoU has also set a