The National Aluminum Company Limited (Nalco), Indias largest producer and exporter of alumina, has bagged the prestigious Niryat Shree Award for excellence in exports for the financial year 2002-03.
By InsightOrissa Bureau
The National Aluminum Company Limited (Nalco), India’s largest producer and exporter of alumina, has bagged the prestigious “Niryat Shree Award” for excellence in exports for the financial year 2002-03.
C.R.Pradhan, Chairman and Managing Director of Nalco, received the award from Union Minister for Commerce and Industry Kamal Nath at a function in New Delhi on 13th May. The “Niryat Shree Award” is instituted by the Federation of Indian Export Organisations (FIEO).
During the 2002-03 fiscal, Nalco exported 10.37 lakh tonne of alumina thereby earning foreign exchange to the tune of Rs 798.79 crore. This is 56 per cent growth over Nalco’s export earnings during 2001-02 fiscal. Similarly, Nalco achieved an export earning of Rs 717.14 crore from export of 1,07,302 tonne of aluminum.
The alumina major has been able to boost its exports considerably after completion of its first phase expansion of alumina and metal production while Nalco has already launched its second phase expansion with an investment of Rs 4091 crore which is expected to boost its sales and export figures in the coming years.
During 2003-04, the company earned record foreign exchange of Rs 1717 crore which jumped to an all time high of Rs 2200 crore in 2004-05.
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