NALCO a major player in Odisha Investors’ Meet in ongoing Make-in-India Week

15/02/2016

Bhubaneswar, 15/02/2016: Odisha has been assured of investments worth Rs.56,400 crore at the Odisha Investors’ Meet in the ongoing Make-in-India Week in Mumbai. This includes aluminium major NALCO’s commitment of Rs.20,550 crore for expanding its Alumina Refinery at Damanjodi and setting up an aluminium park at Angul. In this context, Shri Tapan Kumar Chand, CMD of the company said : “Since the entire value chain of Navratna Nalco, starting from bauxite mining to aluminium making is based in Odisha, our major focus is to strengthen the investment climate of the State, thereby boosting Odisha’s industrial upsurge.” Shri Chand was addressing the representatives of different industries, entrepreneurs, bureaucrats, delegates from India and abroad during the investors’ meet yesterday.

“Besides rich in mineral and water resources, Odisha has good road, rail and port connectivity. On the ease-of-doing-business index, the State is bracketed with the best,” Shri Chand remarked. “Moreover, the entire state is dotted with engineering & management colleges, Diploma & ITI institutes, to source skilled manpower. At the same time, the recent ‘smartest city’ tag pinned on State Capital Bhubaneswar by the Centre is an added advantage,” Shri Chand pointed out.

Shri Chand further observed that the current slump in international metal market is likely to continue for some time due to structural adjustment factors in different economies across the globe. In this context, Indian industries need to review their cost structure to remain competitive, he advised.

“Given the tough going in the market, NALCO has developed a new Corporate Plan with a new business model that will withstand market onslaughts and keep the company afloat with profitability even in the slump cycle,” Shri Chand added.