The foresighted policy of the great leader is now bearing fruit. Since 1984, BALCO has been producing consistently at a near full rated capacity, providing sustenance to vital industries in the electrical, transport, packaging, consumer durables, architectural, defence and space research sectors by releasing more than 90, 000 tonnes of metal every year.
The Korba Aluminium Complex spread over an area of about 1500 acres of land, consists of four main facilities, namely, Bauxite Mines, an Alumina Refinery, Smelter and Semi Fabrication Units. The company has its own Captive Power Plant of 270 MW which meets its entire power requirements. The fabrication facilities have been set-up to produce annually 100, 000 tonnes of aluminium semis for catering to the myriad requirements of aluminium users. These facilities include capacities to produce 35, 000 tonnes of Properzi Rods, 40, 000 tonnes of Rolled Products and 7, 000 tonnes of Extrusion (Tubes, Angles, Channels and various other sections) and 18, 000 tonnes of Ingots.
The Korba Project is the result of a multinational collaboration. While M/S ChemoKomplex of Hungary assisted in the Alumina Plant, the expertise of M/S Tsvetmetpromexport of the U.S.S.R, was drawn upon for the Smelter and the Fabrication Plants. On the Indian side, NIDC, and MECON provided the prime consultancy for the Alumina Plant and the Smelter and Fabrication Complex.
In the year 1984, the erstwhile Aluminium Corporation of India, Asansol was merged with BALCO and is now known as BALCO - Bidhanbag unit. This plant is equipped to produce only on downstream facilities with a product mix of 3,600 tonnes of Rolled products, 1,000 tonnes of Extruded Products, 600 tonnes of Foils and 600 tonnes of Conductor (AAC/ACSR/AAAC).
BALCO has proved to be a proud partner in the nations epoch making event - the successful testfiring of the intermediate range ballistic missile AGNI in May 1989 by developing and supplying nearly 90 per cent of the special aluminium alloys required for the missile. Earlier too, special alloys required for Prithvi, the surface - to - surface missile, and mat ground surface just to name a few. Adding to its laurels, BALCO has been the first in the Indian Aluminium Industry to produce Alloy Rods, which is a feed stock for All Aluminium Alloy Conductors (AAA Conductors) very much a need for today's power transmission lines. BALCO has also developed capabilities for production of sophisticated alloys with copper and zinc and other harder groups required for Aircraft / Defence and other industries. Billets and some of its rolled and extruded products can be manufactured in these alloys.
It is a happy consummation of its efforts that BALCO has been consistently making profits since 1987 - 88, with steady growth from Rs. 19 lacs to Rs. 163 crores. The company achieved a highest ever turnover of Rs. 760. 57 crores for the year 1996-97 by sale of 91, 996 tonnes of aluminium, earning a profit before tax of Rs. 127.17 crores for the year ended 31'st March, 1997. The company is now in the reckoning strengthening the sinews of the national economy. A dividend of Rs. 14 crores was given to the government and over and above the dividend, the company contributed a total sum of Rs. 208.95 crores to the Exchequer which comprised of duties and taxes in different forms.
BALCO has also made a major breakthrough by entering the international market in a big way. An all time high export earning of Rs. 19.54 crores by export of 3, 624 tonnes of Aluminium Ingots on FoB basis were effected to United Kingdom. Due to this quantum jump in exports, BALCO could earn a foreign exchange of US $ 54. 54 lakhs and for such achievement, the company is likely to get the recognition of "Export House" status. The company is now planning to globalise with a focus to export atleast 15 per cent of its produce in the international market.
The key plank of BALCO's strategy is reflected in the Company's vision statement "To achieve global standards of Excellence in Productivity and Customer Satisfaction". The culture at BALCO is espoused by the five core values which the company cherishes, i.e. commitment to excellence, Commitment and competence of people, customer satisfaction, consistent profitability and a culture of team work.
The company believes in continuous improvement and has plans for modernisation and technology up-gradation. The smelter retrofitting was taken up with the KAISER Aluminium and Technical Services INC. of U.S.A, and, improvements in casting facilities are being made with the installation of a drop casting machine in the foundry. Installation of a Strip Caster and a new Cold rolling Mill to produce thin gauge aluminium sheet is slated to be complete in all respect by March, 2000. BALCO produces a wide range of aluminium finished goods ranging from primary products like Ingots, Billets, Slabs, Wire Rods, both EC and Alloy and semi fabricated products viz. rolled products and extrusion. Approximately 1500 extruded sections are manufactured in the company.
BALCO is taking necessary steps to raise the level of production at its captive mines and is developing a new mine in the Rajnandgaon district of Madhya Pradesh in order to attain self sufficiency in Bauxite.
The company has a core of competency, a core of strength, a genetic pool - all of which have the ability to minimise disruptions in the process of growth. The strong workforce of 7369 employees work together as a winning team and look forward to reach out in the skies.
