KOLKATA: National Aluminium Company Limited (Nalco), a navratna PSU under the ministry of mines and Gujarat Alkalies and Chemicals Limited (GACL), a Gujarat government promoted company, have formed a joint venture to set up a Rs 1800-crore caustic soda plant. Nalco holds 40% share capital in the new joint venture company, GACL-Nalco Alkalies & Chemicals Private Limited, while GACL holds the rest. The venture plans to produce 2.7 lakh tonnes of caustic soda per annum. The land transfer and ordering of plant equipment are in the final stages. The office of the new company was also inaugurated on Tuesday in Baroda. Tapan Kumar Chand, CMD, Nalco, laid the foundation-stone of the proposed plant, after bhumi puja at Dahej in Gujarat today in the presence of A M Tiwari, IAS, additional chief secretary and MD, GACL, N R Mohanty, director(P&T), Nalco, P K Mohanty, IAS, CVO, Nalco and senior officials of both the companies and govt. of Gujarat. “As a backward integration plan of...

AgenciesThe Corporate Plan has been developed as per the guidelines of NITI Aayog, envisaging a three- year action plan, seven -year strategy and 15-year vision for the company’s growth. National Aluminium Company Limited (NALCO) which unveiled its Corporate Plan (2017-2032) on Monday has set a target of achieving a turnover of over Rs 18,171 crore by 2024 with a net profit of Rs 1,693 crore by 2024. The revenue growth will be driven by an expansion in the company’s smelting capacity to 1.1 million tonne and an increase in its refining capacity to 3.27 million tonne. In the current financial year, 2017-18, Nalco has set a turnover of Rs 8,100 crore as per its MoU with the mines ministry. The long term strategy foresees the company reaching a turnover of Rs 31,248 crore and a net profit of Rs 3,010 crore by 2032. Nalco’s Corporate Plan, which was prepared by consulting major KPMG, was released by Arun Kumar, secretary, mines ministry and other senior officials and Tapan Kumar Chand, c...