Nalco pegs gross sales at Rs 5,000 cr for next fiscal

New Delhi, March 30 | Updated: Mar 31 2006, 05:30am hrs
State-owned aluminium major National Aluminium Company (Nalco) on Thursday fixed gross sales and gross margin at Rs 5,000 crore Rs 2,200 crore respectively for 2006-07.

The company inked an MoU in this regard with the ministry of mines. The MoU was signed between Nalco CMD CR Pradhan and mines secretary AKD Jadhav here.

As per the MoU, the PSU projected more than 100% capacity utilisation of mines, refinery and smelter plants, besides projecting higher financial commitments of over Rs 500 crore during the year to ensure completion of the ongoing project expansion in time. It also envisages an increase in captive coal mining and finding of a new site for another expansion of the company.