Balco Posts All-Time High Turnover

Public sector unit Bharat Aluminium Company Ltd (Balco) has achieved an all time high turnover of Rs 861.23 crore and profit of Rs 133.86 crore in 1997-98. According to the memorandum of understanding signed by the company with Ministry of Mines, Balco has the 1998-99 target of Rs 175.27 crore gross profit while producing 94,000 tonne of saleable metal. It needs to be noted that the letter of intent was issued for installation of over Rs 157 crore on turn-key basis with commissioning due in March 2000. The MoU which was the seventh successive, was signed on April 29, 1998, by Balco managing director S K Ghosh and mines secretary B B Tandon, an official release said.