Odisha Channel Bureau
Bhubaneswar: The Corporate Plan 2017-2032 of National Aluminium Company Limited (NALCO) was released in New Delhi on Monday.
The plan was released by Arun Kumar, Secretary of Ministry of Mines, in the presence of K. Rajeswara Rao, Additional Secretary of Ministry of Mines, N.K. Singh, Joint Secretary, Ministry of Mines and Tapan Kumar Chand, CMD, NALCO.
With the release of Corporate Plan, Kumar appreciated the efforts of NALCO in formulating the plan that provides a strategic way forward for the company up to 2032.
Worth mentioning that the long term corporate plan for the leading aluminium and alumina manufacturer of the country, has been prepared by top consultant M/s KPMG, to position NALCO in a growth trajectory taking into account emerging market conditions and evolving global scenarios.
It may be noted that the Corporate Plan has been developed as per the guidelines of NITI Aayog, envisaging three years action plan, seven years strategy and 15 years vision to have progressive growth of the company.
This also includes a forward looking new vision, mission and values of the company which will give a direction to the company assuring steady growth, minimizing the price volatility of commodities while ensuring profitability.
The new plan envisages NALCO to reach a turnover of Rs. 18,171 crore with PAT of Rs. 1,693 crore by 2024 with enhancement of the smelting capacity to 1.1 million tonnnes and refining capacity to 3.27 million tonnes. The long term strategy foresees the company to reach a turnover of Rs. 31,248 crore and a PAT of Rs. 3,010 crore by 2032.
The corporate plan also envisages backward integration to CT Pitch & Caustic Soda; forward integration to Extrusion, Foils & Castings; expanding value addition capacities in wire rods & rolled products; diversifying into commercial mining in bauxite and chromite, conductors and lithium-ion batteries.
Among others, K.C. Samal, Director (Finance), NALCO and other officials of the Ministry of Mines & NALCO, were also present on the occasion, according to an official press release issued by NALCO.