A top official at Indian aluminium smelter Vedanta told local media this week that his firm plans to enhance its value-added portfolio with the construction of a INR2,500 crore aluminium flat rolled products plant.
The Chief Executive Offiecer of Vedanta Aluminium and Power Ajay Kapur said that the move will be part of a larger INR15,000 crore capex investment aimed at raising the company’s total aluminium production capacity by one-third to a total of 3 million metric tons over the next three to four years.
“We are looking at producing rolled products and entering the sheets market. For this, we are currently talking to Chinese players to see if we can bring a plant here. This project needs some capex. It also gives you high margins and therefore we are investing in R&D to move ahead in that direction.”
Kapur continued by saying that the new plant will be located in either Chhattisgarh or Odisha, though he did not give a specific timetable for when his firm expects to have the new facilities online and under full production.
Vedanta’s flat rolled aluminium products plant will join Hindalco’s several similar facilities throughout India. Hindalco also owns United States-based Novelis, which is the most prolific producer of rolled aluminium on Earth.