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Govt 's Nalco disinvestment plan faces protests from Odisha's ruling party
Edited by : AL CIRCLE
1 min read
Hundreds of workers and leaders of Odisha's ruling Biju Janata Dal (BJD) Monday held a demonstration at Damanjodi in Koraput district against the central government's decision of disinvestment in state-run Nalco, a party leader said.
Demanding a rollback of the decision, the activists demonstrated outside the alumina refinery of the National Aluminium Company Ltd. in Damanjodi.
The protestors said they would intensify their agitation until the government withdraws its decision.
"This is an unfortunate decision. When the public sector undertaking was making profits, we do not know what prompted the government to disinvest," said Jayaram Pangi, Lok Sabha member from Koraput.
The central government holds an 87.15 percent stake in the aluminium maker. The union cabinet recently decided to bring down its stake to 75 percent by selling 12.15 percent of its share.
While Nalco's alumina refinery and bauxite mine are located at Damanjodi, its smelter and captive power plant are at Angul town. The company's corporate headquarters is in Bhubaneswar. Nalco is India's third-largest aluminium producer.
Demanding a rollback of the decision, the activists demonstrated outside the alumina refinery of the National Aluminium Company Ltd. in Damanjodi.
The protestors said they would intensify their agitation until the government withdraws its decision.
"This is an unfortunate decision. When the public sector undertaking was making profits, we do not know what prompted the government to disinvest," said Jayaram Pangi, Lok Sabha member from Koraput.
The central government holds an 87.15 percent stake in the aluminium maker. The union cabinet recently decided to bring down its stake to 75 percent by selling 12.15 percent of its share.
While Nalco's alumina refinery and bauxite mine are located at Damanjodi, its smelter and captive power plant are at Angul town. The company's corporate headquarters is in Bhubaneswar. Nalco is India's third-largest aluminium producer.
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