Bhubaneswar: Central sector Nalco is set to dedicate three projects on Friday. The Panchpatmali South Block Bauxite Mines, 5 MW turbo generation at Damanjodi Alumina Refinery and a nano technology based defluoridation plant at Angul Smelter.
The Nalco CMD Dr. Tapan Kumar Chand said that the union minister for mines, Narendra Singh Tomar will dedicate the projects through video conferencing from Bhubaneswar. The union petroleum and skill development minister, Dharmendra Pradhan, will grace the occasion.
The CMD, while speaking media persons, here on Wednesday, said, Nalco has been recognised as the lowest cost producer of alumina for 2016-17 by Wood Mackenzie. The company is operating its bauxite mines as well as the alumina refinery at 100% capacity. Nalco had added a new value produce AA3105 alloy fan blade stock. It is commissioning of first-of-its kind Detluoridation plant in the World using Nano based Emrion technology. Besides, the company will sign an MoU with National Skill Development Corporation (NSDC) to set up a centre of excellence ‘Institute of Skill Development’, which will impart training to the employable youth to make them industry-ready.
In terms of financial results, there is a 94% growth in net profits in 2nd Quarter of 2017-18 and Net sales turnover has jumped 30% to Rs.4179 crore in first half 2017-18 from Rs.3224 crore of previous year, with net profit registering 42% growth. Also, the share price of Nalco has gone up by 31.7% during the calendar year.
In post-GST implementation, Nalco’s net gain was around Rs. 100 crore due to rationalization of taxes, which the company has graciously passed on to customers in terms of Rs.3000/- discount per ton of aluminium. Fortuitously, alumina and aluminium market have shown shines of firming up, particularly Nalco’s strong alumina arm has leveraged the market by going for sale through global spot tenders. This combined with 100% production in Mines & Refinery (alumina segment) and production optimisation in aluminium smelter have helped Nalco in registering robust growth in profit.
In the Foundation Day Programme, Nalco will confer Lifetime Achievement award to legendary singer Prafulla Kar, special felicitation to flute maestro Pandit Hariprasad Chaurasia. The Foundation Day Celebration on 5th January will be held in Nalco Nagar with Odissi Invocation Dance and musical performances by noted singer Anuradha Paudwal, Sarrika Singh and Mahaprasad Kar.