Nalco Beats Coal Supply Woes Amid Covid-19, Logs 90% Capacity Utilisation

National Aluminium Company (Nalco) has achieved more than 90 per cent capacity utilization at its smelting unit at Angul (Odisha), battling headwinds like coal supply woes during last monsoons and disruptions induced by the recent outbreak of Covid-19 global pandemic.

The company said it recorded cast metal production of 0.41 million tonnes (mt) at the smelter unit whose nameplate capacity stands at 0.46 mt per annum. Even though Covid-19 crisis looms, all of Nalco’s units have been operational with pruned manpower.

Nalco’s captive Panchpatmalli bauxite mines recorded more than 100 per cent capacity utilization with a production of 7.3 million tonnes. Its aluminium refinery at Damanjodi installed at the foot of bauxite laden Panchpatmalli hills, produced 2.16 mt of alumina hydrate. The output figures for bauxite and alumina are Nalco’s highest since the time it started commercial operations around three decades back.

Sridhar Patra, chairman & managing director (CMD), attributed the company’s performance to the teamwork and dedication invested by the employees. He exuded confidence that despite the sluggish metals market, would be able to tide over the downturn by retaining focus on bauxite mining and alumina refining arm and sustaining the cost reduction measures.

RECENT NEWS

Citigroup Allegedly Favoured By Drug Traffickers For Money Laundering Activities

Recent allegations by U.S. law enforcement officials have cast a shadow over Citigroup, one of the world’s largest ban... Read more

Central Bank QE Losses: Financial Realities And Economic Implications

Quantitative Easing (QE) has been a central tool for central banks to stimulate economic growth during periods of financ... Read more

Leadership Shakeup At Citigroup Fuels Succession Rumors

Jane Fraser's recent appointment of three new executives at Citigroup has stirred speculation on Wall Street about the b... Read more

Capital One And Discover Merger: Boosting Competition And Innovation In Financial Services

The potential merger between Capital One and Discover could create a formidable competitor in the financial services ind... Read more

Citigroups Fat-Finger Error: Lessons In Financial Oversight

The financial world was taken aback when Citigroup, one of the largest global banks, was fined £62 million by UK regula... Read more

Titi Coles Legacy In Finance: Pioneering Diversity And Leadership

Titi Cole, one of the most senior Black women in the world of finance, recently exited her high-profile role at Citi. He... Read more