Vedanta to invest up to $2.9 bn over 3 years in key India plants

Vedanta to invest up to $2.9 bn over 3 years in key India plants

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. The company plans to expand the capacity of its Lanjigarh alumina refinery to 5 million tonnes from the current 2 million tonnes and double the capacity of its Jharsuguda aluminium smelter to 2 million tonnes. Vedanta has been trying to expand the capacity of its refinery for almost 8 years but a lack of availability of bauxite, the raw material which is refined to make alumina, has proved a hurdle. Vedanta , which currently buys bauxite from elsewhere to feed the plant, is still in talks with state-run Odisha Mining Corp to get access to the raw material locally, Agarwal said in the state’s capital where he was attending an investment summit. Read More…

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