Already in the midst of debuting several new projects, India’s state-run smelter National Aluminium Company (Nalco) announced its intentions to boost aluminium production capacity to 1.1 million metric tons per annum and alumina refining capacity to 3.27 million metric tons by 2024.
Nalco made the announcement in its Corporate Plan, which seeks to improve the company’s turnover to ₹18,171 crore (US$2.9 billion) and net profit to ₹1,693 crore (US$267 million) by the same year. Such capacity increases are expected to help Nalco in its goal of improving turnover to ₹31,248 crore (US$4.9 billion) and net profit to ₹3,010 crore (US$474 million) by the 2032 fiscal year.
The plan, which was unveiled by Arun Kumar of India’s mines ministry and Nalco’s chairman and managing director Tapan Kumar Chand on Monday, is intended to “position Nalco in a growth trajectory taking into account emerging market conditions and evolving global scenarios” according to the company.
“Right now, our capacity is at 4.6 lakh [460,000] tonne,” explained Chand in a separate interview. “Out of which, this year we may be producing around 4.2 lakh tonne and the coming year, that is 2018-2019, we are planning to ramp up the production to 4.6 lakh tonne or a little above that. We have already started working for a new smelter which will be 0.6 lakh tonne and added together, four year hence, it will be one plus million tonne for aluminium.”
In addition to boosting production, the plan also contemplates Nalco expanding its caustic soda operations and investing more in aluminium foil, castings, and extrusions. Boosting value-added products is also in the cards, with wire rods and rolled products the likely targets. Also planned over the next several years is diversification, as Nalco expects to soon begin commercial mining of bauxite and chromite, and manufacturing of conductors and lithium-ion batteries.