NALCO signs MoU with GOI for 2018-19

Speed Post News Network

New Delhi : Aluminium major & Navratna CPSE National Aluminium Company Limited (NALCO) on May 14, 2018, evening, signed an MoU with the Ministry of Mines, Government of India (GOI), setting highest ever target of Rs 9,350 crore revenue from operations for 2018-19 which is 15% higher than last year.

The MoU was signed by Anil Gopishankar Mukim, Secretary, Ministry of Mines, GoI, and Dr Tapan Kumar Chand, CMD, NALCO, in New Delhi, on May 14 evening. Mukim, Secretary, Mines, complimented NALCO management for the excellent performance of the company, high standard of Corporate Governance in 2017-18 and robust business plans for 2018-19. The MoU has been formulated as per Department of Public Enterprise guidelines and finalised after discussions with both Inter-Ministerial Committee as well as Ministry of Mines, according to a PIB release.

The MoU has also set a target of 2.1 million tons for production of Alumina with 100% capacity utilisation & an optimum Aluminium production target of 4.15 lakh tonnes. It sets a target of reduction in net carbon consumption as part of improvement in production efficiency, apart from giving thrust to commercialisation of new R&D products.

In a strategic move on the human resource front, target has been set for assessment of employees through People Capability Maturity Model (PCMM) and implementation of online human resource management system. The targets will enable the company to synchronise its workforce and skill set in line with the new corporate plan.