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| Nalco officers oppose disinvestment move |
| BS Reporter / Kolkata/ Angul May 10, 2010, 00:46 IST |
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The Officers' Association of National Aluminium Company's (Nalco) smelter and captive power complex at Angul have threatened to go on an agitation opposing the Centre's move to offload 10 per cent stake in the navratna company.
Out of 1800-odd executives of Nalco, around 1200 are engaged at the company's smelter and captive power plants.
B C Ray, president, Nalco Officers' Association- Angul, secretary Arun Sahu and office bearer Banamali Sethi termed the disinvestment move as imprudent, unjustified, unrealistic, anti-state and irrational.
It is the third time in last eight years the Government of India (GoI) has attempted to sell stake in Nalco despite the opposition of the Orissa government, company employees and the people of the state, they told reporters here.
Describing Nalco as the largest integrated aluminium and alumina complex in the country, the association leaders claimed that it also stands out as one of the highly profit making public sector companies.
They alleged that Nalco was not getting cooperation from the state government and the Centre compared to other private sector companies due to which the company's expansion was getting delayed.
According to these officials, the company's expansion plan has been hit by the delay in allotment of mining lease, getting environment clearance and land acquisition.
“The company is unable to expand in Orissa though we have everything except the government support. The possibility of establishment of another greenfield aluminium project by the company at Brajarajnagar in Orissa appears remote as the proposal has hit the environment hurdle”, they added.
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