Vedanta Board approves Balco expansion project worth $1 billion
The Indian multinational mining and metal giant Vedanta’s Board has approved the growth expansion project of its subsidiary Bharat Aluminium Company (Balco) at its meeting held on October 28, 2022.
A revised cost of $ 72 million (INR 595 crore) has been assessed for expanding Balco's rolled product capacity to 180 KTPA from its existing 50 KTPA. Upon completion of this project, Balco will be placed in the high-premium product segment.
Balco is equipped to deliver high quality rolled products in segments with application in automobiles, insulations, bus bars, power projects, electrical, packaging etc.
The expansion of Balco's capacity from 580 KTPA to 994 KTPA will be accomplished through an expansion project of 414 KTPA smelter with an improved VAP portfolio at a revised cost of around $ 1 billion (INR 8,094 crore). However, it is subject to the approval of the Govt. of India.
Downstream weekly recap: AMAG reports record-breaking EBIDTA of EUR 217.4 million in 3Q2022; Kaiser Aluminum reports marginal dip in net sales for 3Q2022
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