The Nalco (Unions) Co-ordination Committee has opposed privatisation the company stating that it was a betrayal of the expectations of people of Orissa. Reacting to the decision to disinvest the PSU, the committee said it was surprised as to how the Cabinet Committee on Disinvestment had valued the company at Rs 29.28 billion while the company was set up at an estimated cost of Rs 24.08 billion. It said that with the completion of current expansion programme, the company would be worth not less then Rs 150 billion.
NSTL
