Bhubaneswar, 02/04/2016: At a time when 70% aluminium companies world over have reported loss and the aluminium industry is reeling under heavy pressure due to sluggish international market, National Aluminium Company Limited (NALCO), a Govt of India PSU, has remained profitable all through by successfully handling the market downturn by focusing on its bauxite mining and alumina refining arm, besides effecting several cost reduction measures, particularly in metal production.
In the process, the aluminium major has registered an all-time high production of 63,40,142 tonnes of bauxite in 2015-16 fiscal i.e. 10.47% higher, and 19,53,000 tonnes of alumina i.e. 5.51% higher than the corresponding figures of the previous fiscal.
“These are the highest-ever production figures since inception of the company”, announced Dr. Tapan Kumar Chand, CMD, NALCO on the occasion of celebrating Utkal Divas (the formation of separate State of Odisha 80 years ago) here on Friday. Dedicating the achievement to the people of Odisha, Dr. Chand said: “Perhaps this is the best possible tribute to the State, where NALCO was born and brought up since 1981.”
The Navratna PSU also produced 3,72,183 tonnes of metal registering an increase of 13.79% as compared to the corresponding figure of the previous fiscal, which include the highest-ever production of 1,01,380 tonnes of wire rods.
During the year, the metal sale was higher by 14.21% at 3,72,424 tonnes and power generation was up by 13.84% at 5841 million units, as compared to previous year.
It is also heartening that the mining lease of South Block and Central & North Block at Panchpatmali bauxite mines of the company in Koraput district has been extended up to March 2020 by Odisha Govt, which were operating under deemed extension till now.