NALCO to invest 65,000 crore in power and mining sector after record profits
Q. Aluminium major NALCO will invest INR 65,000 crore to launch projects and develop the power and mining sector. What record profit has this PSU attained in August 2015?- Published on 28 Sep 15a. 50% increase in profit
b. 100% increase in profit
c. 105% increase in profit
d. 106% increase in profit
ANSWER: 106% increase in profit
Boosted by 106% increase in profit in 2014-2015, NALCO is set to make an investment of INR 65,000 crore to launch key projects and develop the power and mining sector. The company recorded a profit of Rs.1322 crore in 2014-2015 fiscal against Rs.642 crore during the 2013-2014. In the present fiscal, NALCO targets to raise its total metal sales to 3.80 lakh tonnes from 3.26 lakh tonnes during 2014-2015. Numerous projects will be carried out through these funds, including a green-field aluminium smelter abroad. The current CMD of NALCO is T. K. Chand. NALCO is proposing to set up smelter plants with investment of INR 20,000 crore and is exploring Oman, Iran and Indonesia for this purpose. Though power is cheap in Oman and Iran, abundant coal is available at low cost in Indonesia. Port facilities would also be a major factor, according to Chand.
