Nalco plans to raise its production capacity this fiscal

After a record 18 per cent growth in bauxite mining, aluminium major Nalco plans to raise its production capacity to over 73 lakh tonnes this fiscal from about 68 lakh tonnes.

"During 2016-17 Nalco will surpass its production capacity of 68.25 lakh tonnes and will achieve 73.25 lakh tonnes production," Nalco CMD Tapan Kumar Chand said at the 37th foundation day celebrations of the company here last night.

Highlighting the new business model of the company, Chand said, "In 2016 Nalco had posted strong growth of 18 per cent in Bauxite mining, the highest since inception and a record in the mining industry."
 

"In stock market, Nalco share price has registered an increase of 68 per cent from Rs 40.20 in the beginning of the year 2016 to Rs 67.60 as on date," he said.

The Nalco CMD also emphasised that the company, along with its efforts to achieve excellence in business, is focusing on the welfare of its stakeholders.

Union Mines Secretary Balvinder Kumar, who was present at the function, applauded the company's efforts towards enhancing productivity and profitability.

"Despite vagaries of international market, Nalco's consistent performance - both in terms of productivity and profitability is commendable.

"Nalco's efforts towards encouraging and promoting art, culture and sports of the state through various awards are also laudable," he added.

A host of awards were presented by Nalco to achievers in different fields. Nalco Smiles Award was presented to Bhagirathi Panda, Secretary of Institute for Helping the Disabled, for his contributions towards the rehabilitation of differently-abled persons, a company release said.

Nalco Kharavela Award for Odissi Guru was received by Prof Naba Kishore Mishra for his contributions to the promotion of the dance form in India and abroad.

An MoU between Nalco and Utkal University was signed for collaboration in R & D Projects, baseline and impact assessment survey for CSR Projects and Industry Institution Interaction.