NALCO wins highest foreign exchange earner award

New Delhi: National Aluminium Company Limited (NALCO) has won the highest foreign exchange earner-Eastern Region award from the Federation of Indian Export Organisations (FIEO). The public sector company won the award for exporting goods worth Rs 4,068.48 crore in 2017-18 and Rs 3,612.45 crore in 2016-17.

In 2018, the public sector undertaking (PSU) had won an award for being the world's lowest-cost producer of bauxite.
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NALCO's aspirations

NALCO said that it is looking to become one of the world's leading producers of aluminium within seven years by doubling its production. The company's capacity stands at 4.6 million tonne as of now. It is targeting to achieve 1.1 billion tonne by 2026.

The backdrop

The Eastern Region Export Excellence Awards was instituted in 2014 to reward top-performing exporters of Eastern and north-east India. The awards aim to acknowledge the contribution made by enterprises within the nation and in various regions in foreign trade.

The awards were given away by former President Pranab Mukherjee.