National Aluminium Company (NALCO) has signed its 5th Long Term Wage Settlement with employees under five of the companies recognized unions.

This includes Nalco Mines Mazdoor Sangha (BMS), Bauxite Mines; Nalco Mazdoor Sangha (BMS), Alumina Refinery, Damanjodi; Nalco Employees Sangha (INTUC), Smelter Plant, Angul; Nalco Non-Executive Employees Union (HMS), Captive Power Plant, Angul and Nalco Employees Central Union (INTUC), Corporate Office, Bhubaneswar.

As a result, the non-executives of the company will soon receive revised pay and perks, which is valid for a period of 10 years w.e.f January 1, 2007, the company said in a statement.

The tripartite settlement, signed on September 5, was facilitated by the wage settlement board, under the chairmanship of B.L. Bagra, Director (Finance)-cum-CMD, NALCO and guidance of K.D.R. Achari, Deputy Chief Labour Commissioner (Central), Bhubaneswar-cum-Conciliatory Officer.