Vedanta on Tuesday said it would invest ₹6,611 crore over the next 18-24 months in expansion of smelter capacity at group firm Bharat Aluminium Company.
In addition, the company said its carbon plant adequacy business in Odisha would set up a new facility at ₹635 crore.
“Balco’s expansion is a very important project for us. We hope to ramp up the smelter capacity over the next 18-24 months,” Group CEO Sunil Duggal said. “Post this expansion, Vedanta’s aluminium capacity will increase to 2.8 million tonnes,” he added.
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Post the expansion, Balco’s smelter capacity will increase by 414 KTPA, taking its total capacity to close to 1 million tonnes.
Mr. Duggal added that the company was focussed on reducing production cost by nearly $300 per tonne to about $1,200 in the next two years. This would help improve the realisation and profitability from the aluminium business significantly, he said.