The public sector aluminium major Nalco plans to export aluminium valued at over Rs 2,000 crore (Rs 20 billion) to China during the current fiscal, even as the industry is making efforts to boost domestic consumption, C Venkataramana, chairman and managing director, Nalco, said in Bangalore.
Delivering his keynote address at the 'Engineers day' celebration, organised by the Greater Mysore Chamber of Commerce and Industry and the Aluminium Association of India, in Bangalore on Monday night, Venkataramana said Nalco aimed to achieve a turnover of Rs 3,500 crore (Rs 35 billion) during the fiscal with a growth of 8 per cent over the last fiscal.
Nalco recorded a revenue of Rs 650 crore (Rs 6.50 billion) during the first quarter of the current fiscal, he said, adding the second quarter results would be better than the corresponding period last year.
"We are focusing on increasing domestic consumption in the country. Compared to China's per capita consumption of 2.9 kg, India's consumption of aluminium was a paltry 500 grams," he said.
Venkataramana said even in car manufacturing, aluminium consumption in India was about 25 kg compared to about 150 kg in cars from the United States, Japan and Europe.
He said the Supreme Court verdict on HPCL/BPCL divestment would not have any impact, if Nalco went for divestment.
