In the foundation day celebration on Thursday and Friday, the Nalco would dedicate to the nation three projects, the South Block Bauxite Mines, Panchpatmali, 18.5-MW Turbo Generator at the Damanjodi Alumina Refinery and a Nano Technology-based defluoridation plant at Smelter in Angul, said Nalco CMD) Tapan Kumar Chand at a Press conference here on Wednesday.
Chand said Union Minister of Mines Narendra Singh Tomar and Union Minister of Petroleum and Natural Gas Dharmendra Pradhan are scheduled to inaugurate the projects.
Besides, the company would sign an MoU with National Skill Development Corporation (NSDC) in presence of Minister of Skill Development Dharmendra Pradhan to set up an “Institute of Skill Development”, which would impart training to the employable youths to make them industry-ready.
The Nalco Foundation Day Lecture on “Good Governance: Key to Sustainability” would be delivered by Governor SC Jamir here on Thursday.
Besides, the company would confer the lifetime achievement award on Odia singer Prafulla Kar and felicitate living music legend Pandit Hariprasad Chaurasia, the CMD informed.
On the company’s financial results, the CMD said there is a 94 per cent growth in net profits in 2nd quarter of 2017-18 and net sales turnover has jumped 30 per cent to Rs 4,179 crore in first half of 2017-18 from Rs 3,224 crore of previous year, with net profit registering 42 per cent growth. Also, the share price of Nalco has gone up by 31.7 per cent during the calendar year.
In post-GST implementation Nalco’s net gain was around Rs 100 crore due to rationalisation of taxes, which the company has graciously passed on to customers in terms of Rs 3,000 discount per tonne of aluminium, said Chand.