APMDC officials visiting London to present arguments at court over bauxite supply agreement cancellation

According to the latest update, a team of Andhra Pradesh Mineral Development Corporation (APMDC) officials has started their journey to London for attending the upcoming hearing of a case scheduled on September 27 concerning the international arbitration raised by Ras-Al-Khaimah Investment Authority (RAKIA) over the cancellation of a bauxite supply agreement between the APMDC and ANRAK Aluminium Ltd.

Rakia and Penne Group had jointly developed an alumina refinery near Makavarapalem in Visakhapatnam agency based on a MoU signed with APMDC to get bauxite from agency area. Later, as bauxite mining got banned in the agency, RAKIA filed an international arbitration seeking compensation.

According to the report, the officials are likely to inform the court that APMDC is ready to allow operations at the alumina refinery in Visakhapatnam if bauxite comes from Odisha. They will also present arguments that they are not against the operations of the alumina plant in Andhra Pradesh but not in favour of bauxite mining.

“As the compensation will be in hundreds of crores of rupees, we hope that the Centre and the State government try to put effective arguments for resolving the issues,” said the sources.