By Bizodisha Bureau, Bhubaneswar, September 26, 2015 : National Aluminium Company Limited (NALCO), a Navratna public sector metal major on Saturday announced a total dividend payout of 35% to its shareholders, which works out to Rs.1.75 per share in the 34th Annual General Meeting held here.

The total pay-out is Rs.451.02 crore for 2014-15. Since inception, Nalco has paid a total of Rs.5356.76 crore as dividend, including Rs.4598.99 crore as share of government of India. Nalco reported a net profit of Rs 1322 crore in 2014-15.

Addressing the shareholders, Nalco chairman cum managing director T.K. Chand, said the company aimed to be a global player in the mining, metal and energy sectors by increasing the existing metal production, alumina production and raise bauxites and coal.

“Our action plan includes, increasing the volume of production, go for expansion and modernization of our plants and diversification of products. Further, our target is to increase our networks in the domestic as well as in the international market. A flexible plan is envisaged, which takes into account the market uncertainties of future,” Chand said.

“While we have got the much-awaited and much-needed allocation of Utkal D and E Blocks, we are looking forward for consent of State Govt. for allocation of Pottangi Mines in Koraput District so that Alumina Refinery Project of Rs.5,500 crore can immediately start,” Mr. Chand said on the sidelines of the AGM.

On new ventures, Chand dished out a list that included half-a-million tonne per annum [mtpa] Alumina Refinery in Kutch district of Gujarat based on supply of bauxite from Gujarat Mineral Development Corporation’s [GMDC] mines, a Nuclear Power Plant in joint venture with Nuclear Power Corporation of India Ltd. (NPCIL), 2.7 lakh ton per annum Caustic Soda Project along with 100 MW Captive Power Plant at Dahej in Gujarat at an estimated investment of Rs.1789 crore in JV with Gujarat Alkalies and Chemicals Limited.

Besides, NALCO has revived the MoU with Indian Rare Earths Limited in July, 2014 for development of 1 lakh TPA Titanium Slag Project at Chhatrapur in Odisha in Joint Venture.

Nalco also proposes second Smelter and Power Complex at a cost of Rs.22,000 crore at Sundargarh, Odisha. Some preliminary clearances have been obtained and NALCO has applied for Single Window Clearance from Odisha government, Chand said adding that the Company is exploring the opportunity to set up a Greenfield aluminium smelter in a country where energy would be available at a competitive price.

The metal major also plans to set up a Aluminium Park for downstream units at Angul at a cost of around Rs 200 to Rs 300 crore in association with the state government.

The company also plans to set up of 5th Stream of 1 MTPA capacity in existing Alumina Refinery at Damanjodi at an estimated investment of Rs.5,540 Crore.

As part of its initiative to harness renewable energy sources, the company commissioned the two Wind Power Plants in Gandikota of Andhra Pradesh and Jaisalmer, Rajasthan. The first Wind Power Plant of 50.4 MW in Andhra Pradesh was commissioned in 2012-13. The second one was commissioned in January, 2015.

About 181 million units of electricity have been generated from these two plants, in 2014-15. At present, NALCO has plans to invest in four more Green energy projects at a cost of around Rs 1000 crore.