The Hindu : Other States / Orissa News : ‘NALCO strives for developments of rural areas’

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Saturday, Jan 10, 2009
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‘NALCO strives for developments of rural areas’

KORAPUT: NALCO, the Navaratna award winning company has spent more than Rs.140 cr. in Corporate Social Responsibility (CSR) activities including Rs.41.42 cr. for Damanjodi sector in Koraput district, in the last 29 years, Pradeep Kumar Mahapatra, Executive Director (M&R) of NALCO said at Damanjodi while addressing the media on the occasion of celebrating the company’s 29th foundation day on Wednesday evening.

While highlighting the amount of concern that the company had for the development of the peripheral region, he said that Nalco had been actively undertaking various developmental activities to improve the quality of life in rural areas surrounding its place of operation in Damanjodi, Angul and other locations by allocating 1% of its net profit of the year every year .

Moreover, considering the socio-economic condition of Koraput district, Rs.6.52 cr. was already been approved by the company for the year 2008-08 as a part of the peripheral development in the region, he informed.

“Though we have seen reduction in sales realisation due to fall in LME price, the quantum of sales had not been affected” he said .Moreover as a part of the strategy for sustaining the meltdown phase , the company was adopting cost cutting measures and revenue generation like selling of scraps, strict control on consumption of raw materials, reduction of inventory and minimisation of waste to deal with the situation, he added.

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