Kothagudem: The golden jubilee of Nava Bharat Ventures Limited (NBVL) formation day was celebrated at Paloncha in the district on Friday. It might be noted that NVBL formerly known as Nava Bharat Ferro Alloys Limited was incorporated on November 7, 1972 and was promoted by Dr. D Subba Rao and P Punnaiah. It started commercial operations in 1975.
The company Chairman Ashok Devineni, Managing Director P Trivikram Prasad and CEO Ashwin Devineni launched the celebrations at the company’s auditorium and gave their messages to the company employees. The Chairman said the 50th anniversary was a remarkable milestone for Nava Bharat and it went far beyond what anyone imagined back in 1972 when the first smelter for Ferro silicon was established at Paloncha.
Overcoming challenge after challenge the company gained global recognition. Nava Bharat has evolved itself into a robust, dynamic and forward looking industry in the course of the last fifty years, he said, thanking all its stakeholders and workers for their constant support. Managing Director Prasad said he was impressed by the talented employees and their focus on values, safety, and maintaining a continuous improvement mindset in everything the company does. The company would continue to scale milestones of excellence for years to come, he hoped.
The CEO Ashwin said it was gratifying to be celebrating the anniversary at a time when the company’s business looks bright. Demand for sustainable resources was expected to grow and Nava Bharat was at the forefront building new, dynamic markets for our businesses around the globe.
Employees who have completed 25 years of service in the organisation were felicitated by the company. Employees and their children participated in cultural activities and showcased their talent. Telugu cinema artist Siva Reddy presented a show.
Executive director GRK Prasad, Director (Business development) CV DurgaPrasad, Company Secretary and Vice President VSN Raju and Senior Vice President Nikhil Devineni were present.
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