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

JPMorgan Deploys AI Chatbot To Revolutionize Research And Productivity

JPMorgan has deployed an AI-based research analyst chatbot to enhance productivity among its workforce, with approximate... Read more

Private Equity And Banks: The Complex Web Of Leverage

Private equity has emerged as a significant force in the global financial landscape, driving substantial growth and inve... Read more

Financial Watchdog Highlights Unresolved Vulnerabilities In Shadow Banking Sector

The world’s leading financial stability watchdog has issued a warning about the unresolved vulnerabilities within the ... Read more

JPMorgan And Small Caps Lead Market Rally: A Sign Of Economic Optimism

In a week marked by strong financial performance, JPMorgan Chase & Co. reported a 25% rise in profits, and US small-... Read more

Big Banks Vs. Regional Banks: The Battle For Market Share

The financial industry is a competitive landscape where big banks and regional banks vie for market share. Each type of ... Read more

The Evolution Of Philanthropic Advisory Services In Private Banks

The landscape of philanthropic advisory services provided by private banks has undergone a significant transformation. T... Read more