The Odisha High court decision that allowed Vedanta to take part in the tenders for the sale of its surplus alumina was challenged by Nalco.
During the time, the lower court had welcomed Vedanta’s argument that it was competent to take part in the tenders as it operated from an export-oriented zone.
Vedanta Ltd. was allowed by the Supreme Court of India to bid for alumina sale tenders by state-run National Aluminium Company, delivering some relief to Anil Agarwal’s aluminium unit that is seeking to boost supplies of the raw material.
Vedanta’s foreign units can bid for Nalco’s alumina tenders meant for exports and if Vedanta’s bid is affluent, the company can use the raw material at its Jharsuguda plant in the eastern state of Odisha after picking it up from Visakhapatnam port as communicated by a panel of three judges of Supreme Court.
Alumina is of increasing value to the company as it embarks on a plan to raise aluminium smelter production capability by 30% to 3 million tons in the next couple of years.
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