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Bharat Aluminium Company

Summary

Bharat Aluminium Company Ltd. (BALCO) was an Indian government owned aluminium producer under Ministry of Mines, Government of India. In 2000, the Ministry of Mines, Government of India sold it to Vedanta Resources when Atal Bihari Vajpayee-Bharatiya Janta Party-National Democratic Alliance-led-government was in power. BALCO was incorporated in the year 1965 as a central public sector unit (CPSU) and it was the central government-establishment until 2001, when it was taken over by Vedanta Resources, a company listed on the London Stock Exchange. The government company has been closely associated with the Indian Aluminium Industry, in a pivotal role. Mr. Rajesh Kumar is the current CEO & Whole Time Director of the company.[1]

Bharat Aluminium Company Ltd. (BALCO)
Company typePrivate Entity
IndustryAluminium
Founded1965; 59 years ago (1965)
Headquarters
New Delhi
,
India
Key people
Mr. S K Roongta
(Chairman)(Since November 2001)

Mr. Rajesh Kumar
(CEO & Whole Time Director) (Since February 2023)

Rahul Roongta
(CFO)) (Since January 2020)

Ms. Monika Jain
(CSR Head)(Since April 2021)

Ms. Shuchi Mishra
(CC & PR Head) (Since 2024)
ProductsAluminium
Electricity
Rural Development
ParentVedanta Resources (51%) Government of India (49%)
Websitewww.balcoindia.com

History edit

It was incorporated in 1965 as a Public Sector Undertaking.[2] It is the first public sector enterprise in India which started producing aluminium in 1974. Till 2001, BALCO was a public sector enterprise owned 100% by Government of India. In 2001, Government of India divested 51% equity and management control in favour of Sterlite Industries India Limited. There's a little history behind the privatisation of the company that was not doing so well being a public sector company. There were groups formed among people or rather BALCO employees namely supporters of privatisation and the ones who opposed it. Rallies and processions were carried out in the evenings to oppose the privatisation and those who supported it were left in minority. Eventually, things happened as they were planned and the company was listed under Sterlite. There were allegation of scam involved in disinvestment of BALCO.[3]

Achievements edit

They are one of the main primary aluminium producer in India with the production capacity of 590 TPA. The development of special aluminium alloys for "Intermediate Range Ballistic Missile" – Agni and "Surface Missile" – Prithvi have been significant achievements of BALCO. BALCO has been the first in the Indian Aluminium Industry to produce the Alloy Rods, which is a Feedstock for all Aluminium Alloy Conductors, very much needed for today’s power transmission lines.[4]

Criticism edit

Safety concerns edit

A chimney under construction by Gannon Dunkerley & Company at the Balco smelter in Korba, Chhattisgarh collapsed on 23 September 2009 killing 49 workers.[5]

References edit

  1. ^ "Bharat Aluminium Company Ltd. (BALCO) | Balco Team | Board of Directors". www.balcoindia.com. Retrieved 23 November 2018.
  2. ^ "History". Balco. Archived from the original on 26 April 2006. Retrieved 20 August 2006.
  3. ^ "Battle over Balco". www.frontline.in. Retrieved 5 October 2017.
  4. ^ "Profile". Balco. Archived from the original on 4 September 2018. Retrieved 4 September 2018.
  5. ^ "Balco Chimney Crash Deaths". [permanent dead link]

External links edit

  • Official website