Other States - Orissa

Nalco refinery expansion completed

By R. Sampath

DAMANJODI (Orissa) APRIL 18. The Union Minister for Mines and Coal, Ram Vilas Paswan, on Thursday allayed the fears that the Central public sector undertaking, National Aluminium Company (NALCO), would be privatised on the lines of Bharat Aluminium Company.

Speaking to reporters here after dedicating the Rs.1,554-crore third stream expansion of its alumina refinery to the nation, he said: "What is being done is to is to increase the 13 per cent private holding in NALCO to 30 per cent. Even this private holding would not go to any company but to the public----10 per cent for domestic and 20 per cent to foreign stockholders.''

Mr. Paswan also took the opportunity to clarify that these steps would not be inimical to the interests of the workers. ''As long as the Government has the majority holding, the working class need not entertain any doubt about its interests being sacrificed.''

Describing NALCO as the "pride of not only Orissa but the entire nation'', he said that with this expansion the alumina production capacity of the plant would go up to 15.75 lakhs tonnes from the exisitng eight lakhs tonnes.

Another significant feature of this expansion was that the entire capital requirment was funded out of NALCO's internal resources.

He was happy to note that the capacity of its captive bauxite mines in Panchpatmali hill had also doubled to 48 lakhs tonnes.

Mr. Paswan said that NALCO, being among the top 10 global producers of aluminium, was the only company in the country with a planned exportable surplus in alumina and that it was poised to become a key player in the export market with a surplus of one million tonnes.

He revealed that several foreign companies, including Mitsui of Japan and a French aluminium major, were evincing interest for having strategic alliance with NALCO for joint ventures. The negotitations were in the preliminary stage.

Fielding a number of questions on royalty increase to the State

Government, mining leases to private interests, peripheral development and jobs for locals, the Minister said that all these issues would be discussed and satisfactory solutions found.

He disclosed that a meeting of the National Mineral Advisory Council and the State Ministers of Mining was being called on May 1 to sort out a number of issues relating to the mining sector.

On seabed mining, he said that a draft report had been prepared for offshore mining, and Parliament had to enact a law on this after considering legal, environmental and other aspects.

The Secretary for Mines, A.K. Kundra, the Additional Secretary for Mines and NALCO Chairman and Managing Director, S.C. Tripathi, the Joint Secretary for Mines, A. Bagchee, were present at the press conference. Earlier, Mr. Paswan dedicated the refinery to the nation in the presence of the Orissa Chief Minister, Naveen Patanaik.

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