13 APRIL 2016Vedanta Press Release
Vedanta Ltd announces Q4 and Full-Year 2016 production results
Edited by : AL CIRCLE
3 min read
Vedanta Limited announced yesterday production results for the fourth quarter and full year ended 31 March 2016. In Q4 FY2016, aluminium production was 226 kt at Jharsuguda and Korba.
Q4 FY2016 aluminium production highlights:
On 27th January, the company received approval from the regulatory authorities (Orissa Electricity Regulatory Commission) to use the power generated from three units of the 2,400 MW (4 x 600 MW) Jharsuguda power plant for captive use which would enable full ramp-up of the 1.25 mtpa Jharsuguda-II smelter. Consequently, it has commenced ramp-up of the first pot line of 312.5kt from 1 April 2016.
The 325 kt Korba-II smelter produced 19,200 tonnes during Q4 FY2016 with 84 pots operational. Pre-commissioning activities have commenced for further ramp up from the end of April 2016. The second 300 MW unit of the 600 MW CPP was commissioned during March 2016 and has been capitalised on 31 March 2016.
During the quarter, power sales have increased 33 per cent y-o-y due to commissioning of additional units at TSPL and BALCO during the year. With the commissioning of these units, Vedanta Ltd's entire 9,000 MW of power capacity has become operational as of March 2016.
The Jharsuguda 2,400MW power plant operated at a lower Plant Load Factor (PLF) of 39 per cent in Q4. One unit of the plant will supply power to the first line of the Jharsuguda-II smelter, a second unit is committed to the grid, and the metals major will continue to sell surplus power from the remaining units during FY2017.
The TSPL Power Sales in Q4 FY2016 were higher with two units in operations. Both units operated at availability of an average of 86 per cent during the quarter and 80 per cent for the full year.
The MALCO power plant operated at lower PLF of 29 per centin Q42016. The first 300 MW unit of BALCO 600 MW IPP operated at a PLF of 83 per cent in Q4. The second 300 MW IPP unit was commissioned during March 2016 and is expected to be capitalised in April 2016.
Full-year FY2016 aluminium production highlights:
During FY2016, aluminium production was a record at 923,300 tonnes driven by ramp up of additional pots at Korba II and Jharsuguda II. Alumina production was marginally lower at 970,900, due to the single-stream operations at the refinery. During the year, sales of value added products has increased by 7 per cent to 507kt, supporting higher realizations.
Tom Albanese, Chief Executive Officer, Vedanta Limited, said: "We made substantial operational progress during the quarter by reaching important milestones in the Aluminium, Power and Iron Ore businesses. We are continuing to optimise production across our portfolio to generate maximum value in a low commodity price environment and remaining focused on reducing costs to protect margins."
Q4 FY2016 aluminium production highlights:
On 27th January, the company received approval from the regulatory authorities (Orissa Electricity Regulatory Commission) to use the power generated from three units of the 2,400 MW (4 x 600 MW) Jharsuguda power plant for captive use which would enable full ramp-up of the 1.25 mtpa Jharsuguda-II smelter. Consequently, it has commenced ramp-up of the first pot line of 312.5kt from 1 April 2016.
The 325 kt Korba-II smelter produced 19,200 tonnes during Q4 FY2016 with 84 pots operational. Pre-commissioning activities have commenced for further ramp up from the end of April 2016. The second 300 MW unit of the 600 MW CPP was commissioned during March 2016 and has been capitalised on 31 March 2016.
During the quarter, power sales have increased 33 per cent y-o-y due to commissioning of additional units at TSPL and BALCO during the year. With the commissioning of these units, Vedanta Ltd's entire 9,000 MW of power capacity has become operational as of March 2016.
The Jharsuguda 2,400MW power plant operated at a lower Plant Load Factor (PLF) of 39 per cent in Q4. One unit of the plant will supply power to the first line of the Jharsuguda-II smelter, a second unit is committed to the grid, and the metals major will continue to sell surplus power from the remaining units during FY2017.
The TSPL Power Sales in Q4 FY2016 were higher with two units in operations. Both units operated at availability of an average of 86 per cent during the quarter and 80 per cent for the full year.
The MALCO power plant operated at lower PLF of 29 per centin Q42016. The first 300 MW unit of BALCO 600 MW IPP operated at a PLF of 83 per cent in Q4. The second 300 MW IPP unit was commissioned during March 2016 and is expected to be capitalised in April 2016.
Full-year FY2016 aluminium production highlights:
During FY2016, aluminium production was a record at 923,300 tonnes driven by ramp up of additional pots at Korba II and Jharsuguda II. Alumina production was marginally lower at 970,900, due to the single-stream operations at the refinery. During the year, sales of value added products has increased by 7 per cent to 507kt, supporting higher realizations.
Tom Albanese, Chief Executive Officer, Vedanta Limited, said: "We made substantial operational progress during the quarter by reaching important milestones in the Aluminium, Power and Iron Ore businesses. We are continuing to optimise production across our portfolio to generate maximum value in a low commodity price environment and remaining focused on reducing costs to protect margins."
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