Search the Internet          Tips  Sites: Finance, Investment

Workers' strike enters second day in Balco

Thousands of employees went on strike for a second day on Sunday against the central government's move to privatise Bharat Aluminium Company (Balco), the first big sale in a decade of reforms.

"Around 4500 workers are on strike and are camping outside the plant. Only some supervisors are inside the premises. There is no production," Makahan Lal Razak, secretary of the Balco Bachao Sangharsh Samity said on phone from Korba where the aluminium smelter is located.

Police Superintendent S R P Kalluri said the strike was peaceful but police were ready to meet any eventuality.

Trucks carrying bauxite were stranded outside the complex and federal industrial security force personnel were guarding vital installations of the plant, a union leader said.

A Balco spokesman said production had been hampered by the strike and about 100 employees were trying to keep the smelter and the alumina plant running in Korba in the newly created central state of Chattisgarh.

Balco produces 15 per cent of India's aluminium output.

The Indian government on Friday sealed the privatisation of Balco by shifting management control to copper producer Sterlite Industries.

"We are against the privatisation of Balco. It is a public property and we want the deal with Sterlite cancelled," Razak said.

Sterlite's bid of Rs 5.51 billion for 51 per cent share of the firm's equity was approved by a cabinet committee which is overseeing privatisation of India's state-run firms.

Union leader Razak said a mass rally would be held later on Sunday to oppose the sale of Balco.

Local leaders of the main opposition Congress party which rules Chattisgarh state have also joined the protest, Razak said.

Ajit Jogi, the chief minister of the newly created Chattisgarh state where Balco is situated has said his government would approach the country's Supreme Court to stop the deal.

Tell us what you think of this report