State-owned National Aluminium Co Ltd (NALCO) has set a target of producing 4.6 lakh tonnes of aluminium and 16.58 lakh tonnes of alumina in the 2010-11 financial year.

NALCO, India's largest producer and exporter of alumina and aluminium, has said this in a memorandum of understanding (MoU) it has signed with the central Ministry of Mines.

In the agreement signed by company chairman-cum-managing director A.K. Srivastava with Mines Secretary Santha Sheela Nair, NALCO has projected 100 per cent capacity untilisation of its aluminium smelter at Angul and its refinery at Damanjodi in Orissa.

The company has also projected to produce 7,715 million units of power at 85 per cent PLF (Plant load factor), from its 1,200 MW captive power plant at Angul.

Besides, the company has projected higher financial targets and early completion of its on-going second phase expansion projects, a company statement said Friday.

Among other things, the company has agreed to focus on completing the various targets of Utkal-E coal block for coal production by June 2012, Aluminium Park in Angul in joint venture with the Orissa industrial Infrastructure Development Corporation (IDCO).

The company has also agreed to complete the greenfield smelter abroad and development of recently allotted bauxite deposits in Andhra Pradesh for setting up a mine and alumina project at a cost of Rs.6000 crore.