Vedanta aluminium production jumps up 21% Y-o-Y

India’s largest producer of aluminium Vedanta revealed that its total aluminium production escalated 21% to 570,000 tonnes in Q2 FY22 compared with 473,000 tonnes in Q2 FY21.

Vedanta has world-class aluminium smelters with power plants in Jharsuguda, Odisha and at BALCO in Chhattisgarh. The smelter at Jharsuguda is the world’s largest, ex-China.

The aluminium production at Vedanta’s smelters in Jharsuguda and BALCO was higher by 4% as compared to Q1 FY22 mainly due to the up-gradation of pots.

Anil Agarwal, Chairman of Vedanta: “Currently, we are manufacturing 2.2 million tonnes of aluminium and will be manufacturing 3 million tonnes in the recent future at the lowest cost.”

In regards to Vedanta’s role in investment, the Chairman said: “In the coming days, we will be investing $20 billion and of that 25% will go into technology and the remaining 75% into the real manufacturing we have.”

While speaking on Govt. of India’s huge asset monetization and PSU’s for sale, Agarwal said: “Speaking from the heart, only 20% should be privatised and 80% of shares should be made public. Even today, if the government says that we will sell all the shares then it will get over a trillion dollars. No one should hold more than 5% of shares and not a single person is fired from those companies, no retrenchment. Trust me, our people will work, if good leadership is present. 80% of the companies across the world, like General Electric or someone else, are private but are run by the public.”