Seeking PMO’s intervention for adequate coal supply to the aluminium industry, key players have said the shortages have put 7.5 lakh jobs in the sector at risk and investments are bogged down by a heavy debt load of Rs 70,000 crore.
Drawing the attention of the Prime Minister’s Office (PMO) and others to the issue, the Aluminium Association of India (AAI) has sought immediate resolution for “sustainability of Indian aluminium industry.”
“The investment of Rs 1.2 lakh crore in the aluminium sector is holding a debt of Rs 70,000 crore and the employment for 7.5 lakh people is at a very critical risk in the coal shortage scenario,” AAI has said in a letter to the PMO and the coal ministry.
Stressing that “coal security is the most critical aspect of sustainable operations and ramp-up of aluminium smelter”, it has sought directions to Coal India to make available committed quantity of coal to them. Read More…