The Hindu : Business : Nalco plans ventures abroad

Online edition of India's National Newspaper
Saturday, Sep 22, 2007
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Nalco plans ventures abroad

Special Correspondent

Second phase of expansion progressing

BHUBANESWAR: The shareholders of National Aluminium Company (Nalco) on Friday approved the accounts for 2006-07 at the annual general meeting. The company achieved the highest-ever sales turnover of Rs. 6,515 crore, export earning of Rs. 2,585 crore and highest-ever net profit of Rs. 2,381 crore. They also approved the highest-ever dividend payout of 75 per cent amounting to Rs. 483.23 crore (including 35 per cent first interim dividend paid during February and 15 per cent second interim dividend paid in March) as compared to 50 per cent dividend paid in the previous year. Addressing the meting, Chairman, C. R. Pradhan, said Nalco was at present implementing the second phase of expansion with an investment of Rs. 5,000 crore. The projects were scheduled to be completed by the end of 2008. Besides, it was examining some proposals for setting up joint venture projects abroad.

The company was also exploring the possibility of setting up backward integration projects to ensure steady supply of some of the raw materials and for insulating the company from price uncertainties.

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