Angul: Despite the Centre deciding to disinvest 30 per cent of its shares in the National Aluminium Company Ltd (NALCO), the profit-making company would not be privatised, Minister for mines Ram Vilas Paswan said on April 25.

Paswan, who visited the smelter and captive power plant of NALCO, told plant executives and workers that apprehensions about the company being privatised were without any foundation.

Pointing out that the government held 87 per cent share in NALCO, the minister said inspite of disinvesting only 30 per cent of the equity, the government would have total control over the company as it would still hold 57 per cent of the shares.

The Union Minister announced that the NALCO would undertake the repair work of all schools in and around the aluminium town, which had been badly damaged in a hailstorm recently.

Assistance would also be provided in some other areas as the company had an social obligation to fulfil, he said.

NALCO's newly appointed chairman cum managing director, C Venkatraman was also present.

PTI