Bhubaneswar: National Aluminium Company Limited (Nalco) is hopeful that its profit will jump by double once the Utkal D coal block allotted to it and the 5th stream of the alumina refinery at Damnjodi start commissioning.

Addressing the May Day celebrations, organised by Nalco Employees Forum, on Wednesday in Bhubaneswar, chairman-cum-managing director Tapan Chand said: "In the coming years with the commissioning of Utkal D coal block and 5th stream of alumina refinery will be a game changer for the company. It will increase the company's profitability position from existing Rs 700 crore to above Rs 1,500 crore."

Chand said: "With sheer hard work and determination of the workers, the Odisha-grown public sector enterprise has received its due recognition not only at the national level, but also at the international level. We owe the success to our diligent work force, including our contract workers and co-operation from our trade camps, labour unions for the stellar performance of the company."

Sharing his views on the unprecedented success attained by the aluminium major, Chand said the company achieving the status of lowest cost producer of alumina in the world had ultimately emerged as one of the strongest competitors even for the private global players.

He said that apart from the large-scale expansion and diversification in pipe line, there was a need for safeguarding the interest of contract workers as they were also equal partner in the success journey.

"It is important that we create new employment opportunities and protect the interests of the working people. We must revisit the existing Contract Labour Acts and incorporate necessary amendments to make it more developmental rather than punitive," he said. "At Nalco, to take care of new technological changes and ensure competitiveness, we shall be implementing Prasikhya, Prerana, Protsahan and Puraskar for the benefit of our contract workers."

Company directors, Nalco Employees Forum president M.M. Dhal, its general secretary P.K. Das, office-bearers, members of unions and associations were notably present on the occasion. To mark the occasion, a souvenir Shrama Sarathi was also released by Chand.