Nalco investment under CVC scanner

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Debabrata Mohanty: Bhubaneswar, Nov 22 2012, 01:22 IST

the company management failing to cover its financial risk while signing the MoU with GMDC.

While one complainant’s name is being kept secret under Public Interest Disclosure and Protection of Whistleblower scheme of the Commission, the other complaint was lodged by Nalco Employees Union in Damanjodi and President of Nalco Officers’ Association in Angul.

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Nalco

Sanjay | 23-Nov-2012Reply | Forward

I don't know why Nalco is investing in new aluminum projects while it is not able to run its Angul plant at full capacity (because of shortage of coal). There is already huge over investment in aluminum in India. In my view, Nalco should pay higher dividends rather that sitting on cash pile and focus on running its core operations effectively and efficiently. It should withdraw from all JV investments in power, abroad, aluminum etc.