National Aluminum Company (Nalco) Limited will dedicate three major projects to the nation on its foundation day on January 5.
- Published 4.01.18
Bhubaneswar: National Aluminum Company (Nalco) Limited will dedicate three major projects to the nation on its foundation day on January 5.
The projects include the south block bauxite mines, Panchpatmali, 18.5MW turbo generator at alumina refinery, Damanjodi and the nanotechnology-based defluoridation plant in Angul. The bauxite mines are crucial for the operation of its plants both at Damanjodi and in Angul.
Addressing a news conference here, Nalco chairman-cum-managing director Tapan Chand said: "Union minister of mines Narendra Singh Tomar will dedicate the projects to the nation. The company will also sign an MoU with the National Skill Development Corporation in presence of Union minister of skill development Dharmendra Pradhan to set up the Institute of Skill Development, which will impart training to the employable youth to make them industry-ready."
Chand said Nalco had reached 100 per cent utilisation of its bauxite mines and achievement of 100 per cent normative capacity of the alumina refinery. "It has got the recognition as the lowest cost producer of alumina for 2016 and 2017 by Wood Mackenzie," he said.
On its profit, he said: "There is a 94 per cent growth in net profits in second quarter of 2017-18 and net sales turnover has jumped 30 per cent to Rs 4,179 crore in first half of 2017-18 from Rs 3,224 crore of previous year, with net profit registering 42 per cent growth. Also, the share price of Nalco has gone up by 31.7 per cent during the calendar year."
Nalco has introduced an all-weather new business model involving expansion, value addition, cost reduction and others.
Chand said that on its the foundation day programme, Nalco would also demonstrate its commitment for promoting cultural excellence of the state by giving recognition and lifetime achievement award to legendary singer Prafulla Kar and special felicitation to flute maestro Hariprasad Chaurasia."
He said: "Nalco has become a household name in Odisha, a blue chip company in India and a company to watch abroad."