Aluminium giant Nalco is planning to invest over Rs 250 billion to launch new projects and undertake major expansion, reports Business Standard.
Company CMD C R Pradhan said that though disinvestment had to be a government decision as it is the owner, Nalco did not figure in the list of public sector companies likely to be disinvested now. The government has not sought any comment from the Navaratna company in this connection, Pradhan added.
Despite adverse market conditions due to the global meltdown that led to fall in its net profit to Rs 12.72 billion during 2008-09 against Rs 16.32 billion in the previous year, Nalco achieved a record turnover of Rs 56.31 billion last fiscal compared to Rs 55.76 billion during previous year, he said. Nalco achieved highest ever cast metal production of 361,262 tons in 2008-09 against 360,457 tons in 2007-08, the company CMD said.
Heard through reliable sources-
still this counter being a government controlled it is matter of time- can say two years or even three years to materialize. But this delay can be very costly since Hindalco is also moving in the same direction.
In paper on the table ?????? with NALCO.
PLANS FOR MANUFACTURE OF BUBBLE ALUMINUM SHEETS AND SECTIONS FOR WEIGHT REDUCTION WITH ONE AND ONLY MANUFACTURER FROM UNITED STATES.
If materialised- NALCO WILL FLY HIGH LIKE ROCKET. Will they act swift or will Hindalco play around.
Any one who is going to succeed- will be able to manufacture aluminium sheets which will weight just 1.5 kg for 6ftx4ft sheet. Also they are planning to manufacture, H, L Square sections in aluminium. Will find extensive use in Automobiles. Building cladding, Aviation. The intrinsic strength and tensile strength will be atleast eight times more than normal almuminium.
Again: the above is at very very basic preliminary stage. Not worth for any investment decisions .
| NIFTY 
