13 JUNE 2011Economic Times
Vedanta to invest Rs 10,000 cr more to complete Jharsuguda power projects
Edited by : AL CIRCLE
2 min read
Vedanta Aluminium Ltd (VAL), a unit of Anil Agarwal-led Vedanta Resources PLC, will invest about Rs 10,000 crore to complete its aluminium smelter and independent power plants at Jharsuguda.
The company has so far invested around Rs 40,000-crore in its Lanjigarh and Jharsuguda projects in Orissa. It has set up a greenfield alumina refinery with a capacity of 1-million tons at Lanjigarh in Kalahandi.
"We have so far invested around Rs 40,000-crore in Orissa and will invest about Rs 10,000 crore to complete the ongoing smelter and powr projects at Jharsuguda", VAL president and CEO, Dr Mukesh Kumar on Sunday told "The ET" over telephone from Lanjigarh.
Incidentally, VAL had lined up investment of Rs one lakh crore its Orissa including the Vedanta University at Puri and expansion of aluminium smelter at Lanjigarh, but it has shelved the University project due to legal hassltes and local opposition while the latter one is mired in legal controversies.
The VAL has also plans to set up an Aluminium Park in Jharsuguda at an estimated cost Rs 15000-Rs 20000 crore that will co-locate multiple downstream industries. "The proposed park will help promote the budding enterprises by utilising molten or liquid alumina, the process would reduce the cost of producing different aluminium products like electrical appliances, aluminium extrusion and automobile parts", Dr Kumar added.
The company has so far invested around Rs 40,000-crore in its Lanjigarh and Jharsuguda projects in Orissa. It has set up a greenfield alumina refinery with a capacity of 1-million tons at Lanjigarh in Kalahandi.
"We have so far invested around Rs 40,000-crore in Orissa and will invest about Rs 10,000 crore to complete the ongoing smelter and powr projects at Jharsuguda", VAL president and CEO, Dr Mukesh Kumar on Sunday told "The ET" over telephone from Lanjigarh.
Incidentally, VAL had lined up investment of Rs one lakh crore its Orissa including the Vedanta University at Puri and expansion of aluminium smelter at Lanjigarh, but it has shelved the University project due to legal hassltes and local opposition while the latter one is mired in legal controversies.
The VAL has also plans to set up an Aluminium Park in Jharsuguda at an estimated cost Rs 15000-Rs 20000 crore that will co-locate multiple downstream industries. "The proposed park will help promote the budding enterprises by utilising molten or liquid alumina, the process would reduce the cost of producing different aluminium products like electrical appliances, aluminium extrusion and automobile parts", Dr Kumar added.
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