Acute coal shortages in India are beginning to take their toll on the country’s aluminium producers, as several of the major aluminium firms are unable to obtain sufficient quantities to keep captive power plants in operation.
The board of Hindalco Industries, which is meeting on Friday, will consider company management’s proposal to raise up to Rs 4,400 crore via debt.
“While the Nation is transforming into a global leader, under Prime Minister’s Swadeshi Movement, it is heartening that Navratna PSU Nalco is taking an active part in this endeavour.
Despite the Ministry of Mines insisting on the imposition of minimum import price (MIP) on aluminium products, the Ministry of Commerce and Industry is unlikely to do so.
Union Budget Has Given MSMEs Engaged In Power, RE, Coal and Mines An Competitive Edge : Piyush Goyal
Union Minister of State (IC) for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal said on Thursday that the Micro, Small & Medium Enterprises (MSMEs) have been made competitive with the announcement in the Budget 2017 over reduction of Corporate Tax to 25% up to turnover of Rs. 50 crores.
Vedanta Resources Plc plans to invest as much as Rs 200 billion (USD 2.9 billion) over three years to expand its alumina and aluminium producing capacity in Odisha, its chairman Anil Agarwal said.