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Public sector aluminium major, the National Aluminium Company Limited (NALCO), is an integrated multi-locational aluminium complex of the country. It was incorporated in January 1981 to implement the bauxite, alumina and aluminium project in the backward tribal areas in Orissa.
At present, the company has a 4.8 million tpa bauxite mine at Panchpatmali and 15.75 lakh tpa alumina plant at Damanjodi in Koraput district. Its 3,45,000 tpa smelter plant is situated at Angul, Angul district in Orissa. It has a 960 MG captive power plant at Angul to supply power to smelter plant. The company has got port handling facilities at Visakhapatnam of Andhra Pradesh to handle export of alumina and import of caustic soda.
The system support to the complex includes a coal handling plant set up by the Mahanadi Coalfields Limited (MCL) and a link rail line between Koraput and Rayagada implemented by South Eastern Railways. Technical know-how and basic engineering for the project were supplied by M/s. Aluminium Pechiney of France who is providing the technical assistance till date. Engineers India Limited (EIL) is the prime Indian consultant for mines, alumina refinery and aluminium smelter.
The commercial production from original project started from January, 1987. The company started paying dividend to the Government since 1992-93. During the year, it paid 1.20 per cent of the paidup capital i.e. Rs.15.46 crore to the Government of India. Since 1993-94, it has been giving dividend to the Government and its shareholders regularly. Since 2001-02, it is giving 40 per cent of its paid up capital as the dividend and during 2003-04, it was the highest ever 60 per cent. During the year it gave Rs.386.59 crore as dividend out of which Government of India's share was Rs.336.90 crore. During 2004-05, it has also paid 40 per cent dividend and the Government of India has got Rs.224.60 crore out of the total dividend of Rs.257.72 crore.
Dividend paid by the company year-wise is given below :
(Rs. in crore)
Year of Payment
As % of Paid Up capital
Total dividend
Share of Govt. of India
1992-93
1.20
15.46
15.46
1993-94
2.00
25.77
22.47
1994-95
2.00
25.77
22.47
1995-96
3.00
38.66
33.69
1996-97
3.50
45.10
39.30
1997-98
8.00
103.09
89.84
1998-99
10.00
128.86
112.30
1999-2000
12.00
77.32*
67.38*
2000-01
20.00
128.86
112.30
2001-02
40.00
257.72
224.60
2002-03
40.00
257.72
224.60
2003-04
60.00
386.59
336.90
2004-05
40.00
257.72
224.60
Total
1748.64
1525.91
*Due to reduction in equity capital by 50 per cent on capital restructuring.
DS/SCH
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