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Odisha CM opposes disinvestment in Nalco

Nalco

Bhubaneswar: Protesting the Central government’s move for disinvestment of equity holding in Nalco, Odisha Chief Minister Naveen Patnaik on Friday requested Prime Minister Narendra Modi to put further disinvestment in the public sector undertaking on hold.

In a letter to Modi, Patnaik requested him to issue appropriate instructions to the Mines Ministry to look into the matter to address the concerns of people of Odisha and employees of the company.

“Nalco has an excellent track record of performance and is poised for a robust growth in future,” he added.

To enhance the production capacity of Nalco and increase its profitability, the Chief Minister said that the state government has reserved the Pottangi bauxite deposit over an area of 1738.04 hectares having an estimated resource of about 74 million tones of the mineral for it.

The terms and conditions of the mining lease have also been issued by the state government in July last year, he added.

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