PM confers best listed CPSE award to Orissa-based PSU NALCO

Bhubaneswar: National Aluminium Company Limited (NALCO) – a Navratna PSU under the Ministry of Mines, Govt. of India, has received the Best Listed CPSE Award for its excellent performance in significant value addition to its shareholders. The award was received by Shri A.K. Srivastava, CMD, NALCO from Hon’ble Prime Minister, Dr Manmohan Singh at the MoU Excellence Awards & SCOPE Excellence Awards ceremony held at Vigyan Bhavan, New Delhi.

NALCO has received this award for achieving the highest growth in market capitalization during 2008-09, among 42 listed Central Public Sector Enterprises (CPSEs). The MoU Excellence Awards, instituted by the Department of Public Enterprises under the Ministry of Heavy Industries & Public Enterprises, Govt. of India has recognized twelve Best-Performing CPSEs under the MoU scheme with the Government – one each from ten industrial sectors and the other two from among listed companies and turnaround enterprises. The company has recorded the highest ever production since inception with respect to Bauxite, Alumina, Cast Metal and Power. Mines, Refinery, Smelter and CPP have achieved 101.64%, 101.05%, 99.88% and 88.33% capacity utilization respectively during 2009-10. In 2009-10 NALCO marketing divisions achieved the highest ever sale of 4,35,979 MT metal as against sale of 3,53,589 MT metal during the previous financial year. This comprises 2,89,031 MT, the highest ever domestic sale of metal surpassing the previous best of 2,71,274 MT achieved in 2008-09 and the highest ever export sale of 1,46,948 MT against the previous best of 1,32,730 MT achieved in 2004-05. The company has recorded a higher export earning of Rs.2209 crore during the year 2009-10 against Rs.2071 crore achieved during the previous year.

It may be mentioned here that, NALCO has been on the growth path right from the beginning. Presently, the company has lined up various projects involving an investment of over Rs.45,000 crore. NALCO has drawn up ambitious plans to grow both organically as well as inorganically to be a reputed global company in the metals and energy sectors. The company also intends to enter into energy sector as an independent power producer and acquire new mineral resources especially coal, bauxite, copper etc.

As part of these plans, NALCO has signed MoU with Nuclear Power Corporation of India Ltd.(NPCIL) for establishment of a nuclear power plant in Joint Venture. Besides, NALCO has plans to venture into both upstream and downstream fields to leverage its strength in alumina and aluminium business in India and abroad. In this direction, the company is actively pursuing various proposals including a Greenfield Project in Indonesia.

Source: Orissa Diary