BALCO organizes first ever Virtual Meet with its business partners
Team News Riveting
Raipur, September 2
The Chief Executive Officer (CEO) and Director of Bharat Aluminium Company Limited (BALCO), Abhijit Pati said that the per capita aluminium consumption in the country could be increased to 25 kilogram (kg).
Presently, the consumption of aluminium in the country is about two and a half kg per person per year which is much below the global average of 11.8 kg.
“It (the per capita consumption) can be increased to the level of consumption of 25 kg per person,” Pati said while addressing the business partners in the maiden virtual meet organized today.
It was aimed to give the message of being together and taking the country towards greater heights in the field of aluminium production and industrial superiority besides working towards increasing the per capita aluminium consumption.
High consumption of aluminium is a major indicator of the rapid pace of development, the Balco CEO said, adding that the metal is used extensively in developed countries. US annual consumption per person is around 30.5 kg, whereas in China it is at 26 kg.
Aluminium is stronger and durable in terms of metal weight. This is the reason why it is used in the space industry, vehicles etc. The use of aluminium in various applications also reduces energy consumption. It has been identified as green metal due to its sustainability and repeated recycling properties.
“The best management and governance will lead us towards our goals,” Pati added. Business partners have an important role in BALCO’s progress. BALCO was the second company in the country to be established for self-sufficiency in the aluminium sector. This company expanded and with the investment of Vedanta group, the production capacity of BALCO has reached 5.70 lakh tonnes per year today.
In the two decades of disinvestment, BALCO recorded rapid growth. By the year 2005, the production capacity of BALCO increased by three and a half times to 3.45 lakh tonnes per year, while the total production capacity of BALCO has increased almost six times till now. By adopting world-class operating capabilities, BALCO proved that it is possible to rejuvenate industries with best management.
“The success story of BALCO is exemplary,” Pati said.
