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Thursday, December 31, 2009

Government to split NALCO in three

Shares of public listed NALCO shot up that the government plans to split the company into NALCO Aluminium, NALCO Power and NALCO International at an opportune time.

According to the government, NALCO will aim at revenues of Rs 25,400 crore by FY 2020 and Rs 5440 crore annual net profit by FY20.

The company will also be aiming to sell at 1000 MW power by 2016.

While speaking to, B L Bagra, Director, Finance, NALCO, said that the demerger plan is part of company’s 2020 vision and will take 2-4 years.

The power and other metal companies will increase the turnover by 30-40 per cent. NALCO International will be an investment vehicle.

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