Tuesday 27 August 2013

NALCO surges on the buzz of inking 5-yr fuel supply agreement with MCL

National Aluminium Company (NALCO), a Navratna PSU of Ministry of Mines, has reportedly signed a long term fuel supply agreement with Mahanadi Coalfield (MCL). As part of the pact, MCL will supply 47.16 lakh tonnes of coal to NALCO’s captive power plant at Angul and 873,324 tonnes of coal for its steam cum power generation plant, at Damanjodi.

The agreement, which is for a period of five years from 2013 to 2018, was signed on August 21, 2013.

The company’s total alumina sale during first quarter ended June 2013 stood at 2.83 lakh tonnes (LT) as against 2.53 LT in the first quarter of the previous fiscal. As regards metal sales, the company sold 0.85 LT in Q1 as against 1.02 LT in the corresponding period of previous year.

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