nalco is good news so new high is short term NALCO inks MoU for higher production, financial targets The target for revenue from operations, excluding excise duty, has been fixed at Rs 7,100 crore National Aluminium Company (NALCO), the Navratna PSU, has signed a Memorandum of Understanding (MoU) with the Ministry of Mines, Government of India regarding financial and non-financial targets for the FY 2016-17. The MoU was formulated as per the new DPE guidelines and finalized after discussions with both Inter-Ministerial Committee as well as Ministry of Mines. As per the MoU, the target for revenue from operations, excluding excise duty, has been fixed at Rs 7,100 crore. The MoU has also set higher targets for production of both alumina and aluminium as compared to the previous fiscal. Nalco has set an annual production target of 21.30 lakh tonnes (LT) of alumina and 3.85 LT of aluminium. The company had produced 19.53 LT of alumina and 3.72 LT of aluminium in 2015-16. The company has also set a capex target of Rs 1,021 crore, which includes projects like development of Utkal D & E Coal Blocks, Wind Power Projects of 50 MW each in Maharashtra and Rajasthan, addition of 5th stream in the existing Alumina Refinery at Damanjodi, Koraput, a 20 MW Solar Power Project in Madhya Pradesh and other modernization activities. source: ventura