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23 MARCH 2018 AL CIRCLE

Vedanta to invest INR 12.4 bn on Jharsuguda smelter to elevate aluminium capacity

EDITED BY : DEBANJALI SENGUPTA 1MINS READ

Vedanta has proposed to invest INR 12.4 billion on its Jharsuguda unit (Odisha) to elevate the capacity of aluminium smelter from 1.6 million tonnes to 1.8 million tonnes per annum. The proposal underwent a scrutiny of the State Level Single Window Clearance Authority (SLSWCA) yesterday (March 22, 2018).

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After a round of scrutiny by SLSWCA, the proposal is now referred to a higher body, the High Level Clearance Authority (HLCA) for an approval, since the former is entitled to approve an investment proposal of up to INR 10 billion only.

An investment proposal presented by diversified conglomerate ITC Ltd. for expanding a product line at its existing unit Khurda at a cost of INR 630 million envisioning creating an employment for 100 heads, along with a proposal by wires and cables manufacturer A C Pvt Ltd to install an aluminium conductor and cable manufacturing unit at the Angul aluminium park at a cost of INR 520 million got approved by SLSWCA in the recent time.

Earlier, the State Level Single Window Clearance Authority also considered projects that were worth INR 14.95 billion, accompanied by an assurance to offer an employment to 1230 persons.


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EDITED BY : DEBANJALI SENGUPTA 1MINS READ

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