London-based Indian metals miner Vedanta Resources plc announced it has obtained permission from the Odisha state government to expand its refinery in the state.
Citing the ever-strengthening global demand for aluminium, Vedanta petitioned the state government to bump up capacity at its alumina refinery at Lanjigarh. At present the refinery’s capacity is 1 million metric tons per annum; however, with clearance from the state government now in hand, the plant’s capacity could soon top out at 6 million metric tons per annum.
Vedanta says that the expansion will likely require an investment of US$993 million and be carried out only after the company is able to obtain an additional 1,600 acres for the project.
Though the state government has signed off on the expansion in principle, Vedanta still lacks “high level clearance authority” from a committee chaired by the state’s chief minister. However, the state indicated that it has recommended an increase of the company’s captive power plant’s output from 90 mW to 340 mW.
At present the refinery boasts ISO 9001 and ISO 14001 certifications and operates at a plant-availability factor of 92 percent.
Vedanta Resources plc is the world’s sixth-largest natural resources company and the largest mining and non-ferrous metals firm in India. It’s principal owner is Indian billionaire Anil Agarwal via Volcon Investments, which owns a 61.7-percent stake in the firm. The company boasted revenue of US$11.6 billion last year. The company employs over 25,000 and is traded on the London Stock Exchange. Its subsidiaries include Sterlite Industries, Hindustan Zinc Limited, Sesa Goa, Bharat Aluminium Company, Madras Aluminium Company (MALCO), Vedanta Aluminium, Sterlite Energy, Australian Copper Mines, and Konkola Copper Mines.