India Might Not Pursue National Aluminium Privatisation

- May 5th, 2010

Orissa opposed the privatisation of India’s steel giant National Aluminium Co Ltd (NALCO). The government of India is currently holding 87.15% of stake in the company and now has withdrawn 10 percent of its stake in NALCO.  Although this action aroused protests in the state. NALCO plans to grow in the aluminium sector and wants […]

Orissa opposed the privatisation of India’s steel giant National Aluminium Co Ltd (NALCO). The government of India is currently holding 87.15% of stake in the company and now has withdrawn 10 percent of its stake in NALCO.  Although this action aroused protests in the state. NALCO plans to grow in the aluminium sector and wants to diversify into the other metals and the power sectors.

The press release is quoted as saying:

“The central government has in the past initiated steps to reduce the government’s equity stake in NALCO a number of times but had to drop the plans due to strong protests by all the political parties and trade unions in the state.”

Click here to access the entire press release:

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