Vedanta Aluminium Expands Capacity, Aims for Global Top Three Position

4 Apr 2024 , 02:20 PM

Vedanta Aluminium commissioned a 1.5 million tonnes per annum (mtpa) facility at its alumina refinery in Lanjigarh, Odisha, on April 3. This new capacity expansion is integrated with an existing 3 mtpa plant, increasing the firm’s total capacity to 3.5 mtpa.

The aim of the expansion is to propel Vedanta Aluminium among the top three global producers. The addition boosts the Lanjigarh refinery’s nameplate capacity from 2 mtpa to 5 mtpa.

At the time of writing, Shares of Vedanta Aluminium was trading at ₹309.40, which is a 3.55% hike than the previous close.

John Slaven, CEO of Vedanta Aluminium, emphasized the significance of the expansion in enhancing raw material security and reducing costs for the company’s aluminium smelters in Jharsuguda and BALCO.

Vedanta Aluminium, a subsidiary of Vedanta Limited, is India’s largest producer of aluminium, contributing to over half of the country’s aluminium production in FY24.

Vedanta Limited, led by Anil Agarwal, reported a 18.3% decline in net profit to ₹2,013 Crore in the third quarter of FY24, with revenue growing 4% to ₹34,968 Crore during the same period.

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