Nalco reappoints five independent directors on board for one-year tenure

State-owned Nalco on Wednesday announced that it has reappointed five independent directors on its board.

Ministry of Mines has "reappointed ....five part-time non-official (independent) directors on the board of Nalco for a period of one year from the date of completion of their existing tenure i e 20.11.2018 or until further orders, whichever is earlier," Nalco said in a BSE filing.

The five independent directors are Dipankar Mahanta, S Sankararaman, P K Nayak, Damodar Acharya, and Maheswar Sahu.

With the move, the total number of independent directors of the company's board has increased to eight.

These independent directors were appointed on the board for a period of three years in November 2015.

"On completion of the tenure of all five independent directors on November 20, 2018, they...ceased to be the independent Directors of NALCO's Board," the filing said.

National Aluminium Company (NALCO) is one of the largest integrated bauxite-alumina-aluminum-power complexes in the country.

The company has a 68.25 lakh tonnes per annum (TPA) bauxite mine and 21.00 lakh TPA (normative capacity) alumina refinery located at Damanjodi in Koraput district of Odisha, and 4.60 lakh TPA aluminium smelter and 1,200 mw captive power plant in Angul, Odisha.

NALCO has bulk shipment facilities at Vizag port for export of alumina/ aluminium and import of caustic soda and also utilises the facilities at Kolkata and Paradeep Ports.