OREANDA-NEWS. March 16, 2011. National Aluminium Company Ltd. (NALCO), India’s largest producer and exporter of alumina and aluminium, has signed a Memorandum of Understanding (MoU) with the Ministry of Mines, Govt. of India, for the financial year 2011-12 in New Delhi today. NALCO has been receiving very good rating from the Ministry, including the last fiscal.

On behalf of the Company, Shri B.L. Bagra, CMD, signed the MoU with Shri Vijay Kumar, Secretary, Ministry of Mines, Govt. of India, in the presence of Shri Sundeep Kumar Nayak, Joint Secretary and other senior officials of the Ministry and the Company.

In the MoU, NALCO has projected higher production of 63 lakh tonnes of bauxite and 21 lakh tonnes of alumina from its Mines & Refinery Complex at Damanjodi, during 2011-12, to achieve excellent rating. Similarly, metal production from the Company’s Smelter has been projected at 4.6 lakh tonnes and power generation at 7518 million units from its 1200 MW Captive Power Plant at Angul.

Besides, for the first time, higher weightage of 5 points each is given to HRM and Corporate Governance, along with Corporate Social Responsibility, R&D and Sustainable Development.