For him Balco is still a good bet.
What have you got against the Balco deal?
Balco, for instance, has units in Chhattisgarh and West Bengal.
Neither does his allegation that the Balco deal will hurt tribals carry conviction.
Just like its predecessor Balco, Sterlite has shown no concern whatsoever for the environment.
Patrick Arnold is organic chemist who developed the once undetectable anabolic steroid tetrahydrogestrinone(THG) for Balco.
If Balco is re- nationalised and taken away
from its legal buyer, Jogi says he will withdraw Operation Sabotage.
Which bought a 51- per cent stake in Balco for Rs 551.5 crore,
is hoping that the worst is over.
Smelters in Balco, Korba, are expected to get most of their future
supplies from the Surguja and Shahdol regions in Chhattisgarh.
His valuation of Balco is as harebrained as his claim that the privatisation programme
is designed to destabilise Congress- led state governments.
On its part,
the Central Government is hoping that the shadow of Balco does not extend beyond the next couple of deals.
Though Shourie' s personal integrity and
Vajpayee' s unflinching support finally saved the day on Balco, the Government has lessons to learn.
If the privatisation process moves smoothly from now, most of the apprehensions generated by the Balco controversy will be laid to rest.
Our experience in turning around aluminium plants( MALCO)
makes us confident that we will be able to make Balco a world- class aluminium company,
On July 2, 1992, around 639.169 hectares of land in Mainpat was leased to the public
undertaking Bharat Aluminium Company Limited(Balco) for 20 years, for bauxite excavation.
The previous six years had seen the Balco scandal, Tim Montgomery
and Justin Gatlin stripped of their 100 m world records, and Marion Jones returning three Olympic gold medals.
In 2001,
he acquired 51 percent in Bharat Aluminium Company(Balco), a public sector undertaking and in the very next year,
he acquired a majority stake(nearly 65 per cent) in state-run HZL.
After an initial face- off, the Balco management led by Managing Director S. C. Krishna
and 35 leaders of the five unions that supported the strike finally sat down to hammer out a compromise on May 8.
Luckily for us, the Supreme Court took a stern view of a case that it said should never have been brought before it:
there was nothing wrong at all with the sale of Balco, the judges said,
and they would be grateful if people did not misuse the instrument of the PIL( public- interest litigation) on needless litigation.
Born into the Marwari traders' caste 55 years ago(but now ensconced in a 10 million pound mansion in London's fashionable Mayfair) Agarwal had, over the previous three decades, moulded a small Indian copper manufacturing unit into a family holding company which now wields control over two of India's former
state-owned minerals enterprises, Hindustan Zinc and Balco(Bharat Aluminium Company).