National Aluminium Company Limited Current Affairs - 2020

Sridhar Patra appointed CMD of NALCO

The Appointments Committee of Cabinet (ACC) chaired by Prime Minister Narendra Modi has appointed Sridhar Patra as the new chairman-cum-managing director (CMD) of National Aluminium Company Limited (NALCO). He has been appointed as CMD of NALCO till the date of his superannuation, i.e. on 31 October 2024 r until further orders, whichever is earlier. At present he is the Director (Finance) in NALCO.

About National Aluminium Company Limited (NALCO)

NALCO was established on 7 January, 1981, with its registered office at Bhubaneswar, Odisha. It is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in India. It is a Navratna group ‘A’ Central Public Sector Enterprises (CPSE) under Union Ministry of Mines. At present, Union Government holds 52% equity of NALCO.  As per the report of Wood Mackenzie, NALCO achieved the distinction of being the ‘lowest cost producer of bauxite’ in world for the year 2018, globally.

NALCO to get President’s award for excellent CSR in social development

National Aluminium Company Limited (NALCO), an Odisha-based Navaratna Company has been selected for President’s award for utilisation of Corporate Social Responsibility (CSR) fund in social development. NALCO was selected for its Aliali Jhia Scheme.

About Aliali Jhia

In 2015 NALCO started a scheme called Aliali Jhia. The scheme was on the line of Beti Bachao Beti Padhao to adapt and promote the poor and talented girls for education.

It aimed to promote the education of Girls of BPL (Below Poverty Line) families.

Under this scheme, NALCO adopted 416 girls from BPL families of 66 villages in Anugul and Koraput districts of Odisha. These girls are reading in 45 different schools and under this scheme Company is bearing all expenditure for education and promotion of talent from 8th to 10th class.

Scheme is now joined by employees of the company.

About National Aluminium Company Limited

NALCO is a Navratna CPSE (Central Public Sector Enterprises) under Union Ministry of Mines. Centre Government holds 52% equity of NALCO.

It was established in 1981, with its registered office at Bhubaneswar, Odisha.

It is one of the largest integrated primary producer of Aluminium in Asia.

It encompasses entire vale chain from bauxite mining, alumina refining, aluminium smelting and casting, power generation, rail and port operations.

What is Corporate Social Responsibility?

CSR is funding and grants process undertaken by corporate sector under which they provide financial and other support to Non-Profit Organisations (NGOs). Under Companies Act, 2013 it is a mandatory provision for companies to provide a contribution of 2% of average of their net profits.