BHUBNESWAR (Commodity Online): With aluminium demand in global markets set to soar following huge rise in auto sales in India, China and US, aluminium manufacturers like India's Nalco are investing big money into research and other areas with which they can raise production.
Nalco will establish a Research and Technology Centre in Bhubaneswar by the middle of 2012 to help augment growth of aluminium mining in the country.
The state-owned company has bought 18 acres of land to build its world class research and technology centre.
To start with, the proposed research centre would work on alumina, aluminium and bauxite, which could be extended to other fields. Nalco has already undertaken at least 15 collaborative R&D projects with different research institutes.
The company has also undertaken a project as part of Indo-Russian collaboration for extraction of alumina from low grade bauxite, which is at its advanced stage of completion.
Meanwhile, another aluminium manufacturer Hindalco Industries registered 43% Y-o-Y growth in Q4 FY10 standalone net revenue to Rs 5404.40 crore, which is lower than expected.
On Q-o-Q basis the revenue was up 2% as the higher commodity prices were partially negated by the impact of stronger rupee. The low cost brown-field expansion has resulted in higher production volume as well as lower costs, mitigating the adversity of higher coal prices in Aluminium business and lower by-product credit in Copper business.
In the copper business, revenues increased by 52% to Rs 3361 crore on higher copper prices at LME while PBIT increased 150% Y-o-Y to Rs 127.33 crore with PBIT margin improving from 2.3% to 3.8%.
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