By Brahmipriya Samantray

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Mines Secy. applauds company for enhancing productivity, profitability & shareholder value

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Bhubaneswar, 08.01.2017: PSU alumina major NALCO has set its production target at 73.25L tonnes during FY 2016-17, an increase of near 8 pc over its earlier production capacity of 68.25 lakh tonnes, Dr. Tapan Kumar Chand, CMD, Nalco said on the occasion 37th Foundation Day Celebration of the Company here on Sunday.

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He highlighted the corporate journey of Nalco since inception and presented the new business model under implementation in Nalco. “In stock market Nalco share price has registered increase of 68% from Rs. 40.20 in the beginning of the year 2016 to Rs. 67.60 as on date,” he added. The company along with its efforts to achieve excellence in business, is focusing on the welfare of its stakeholders, Dr. Chand said.

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“Nalco has posted strong growth of 18% in Bauxite mining, the highest since inception and a record in the mining industry. “Despite the vagaries of international market, Nalco’s consistent performance–both in terms of productivity and profitability is commendable.” said Shri Balvinder Kumar, IAS, Secretary, Ministry of Mines, Government On the occasion.

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On the occasion, Nalco also honoured dignitaries in different fields.

\r\nAn MoU between Nalco and Utkal University was signed to collaborate on some specific areas viz.  R & D Projects, Baseline and impact Assessment Survey for CSR Projects and Industry Institution Interaction where Utkal University will be one of key Institutions, extend internship and Vocational Training to students of Utkal University and extend its support in Skill Development Training programmes for under privileged people of the state of Odisha.\r\n\r\n\r\n