Vedanta Aluminium commissions new 1.5 MTPA capacity at Lanjigarh refinery
Upstox
2 min read • Updated: April 3, 2024, 7:31 PM
Summary
After the completion of the 1.5 MTPA project, the present capacity of the Lanjigarh refinery has expanded to 3.5 MTPA, placing the company among the top three global producers of aluminium with over 3 MTPA production capacity, Vedanta Ltd informed the stock exchanges.
India’s leading aluminium producer Vedanta Aluminium has commissioned a new 1.5 million tonnes per annum capacity at its alumina refinery in Lanjigarh, Odisha.
The new capacity is part of Vedanta Aluminium’s 3 million tonnes per annum (MTPA) capacity expansion project, Vedanta Ltd said in a filing to the stock exchanges on Wednesday, April 3. Vedanta Aluminium is the aluminium vertical of metal and mining giant Vedanta Ltd.
Vedanta now among top 3 players globally
After the completion of the 1.5 MTPA project, the present capacity of the Lanjigarh refinery has expanded to 3.5 MTPA, placing the company among the top three global producers of aluminium with over 3 MTPA production capacity, Vedanta Ltd informed the stock exchanges.
The 3 MTPA capacity expansion will take the overall production capacity of the Lanjigarh refinery to 5 MTPA, it added.
Vedanta Aluminium is India’s largest producer of aluminium and accounts for more than half of India’s aluminium output. Its total output was 2.37 million tonnes in FY24.
Vedanta Aluminium produces a range of aluminium products, including India’s first low-carbon ‘green’ aluminium range, branded Restora. The products are used in sectors such as automotive, aerospace, power projects, defence, infrastructure, electricals and packaging, among others.
The company is also one of the largest producers of premier smelter grade alumina (SGA) in India, a key raw material for the company’s aluminium plants in Jharsuguda (Odisha) and BALCO (Chhattisgarh).
Vedanta Aluminium CEO John Slaven said, "The expanded capacity strengthens our raw material security and reduces costs for our Jharsuguda and BALCO aluminium smelters. It is a significant step towards 100% vertical integration and strongly positions us for sustainable growth within the global aluminium market."
Anil Agarwal-led Vedanta Ltd reported a 7% drop in net profit to ₹2,868 crore in the December quarter of FY24 compared to ₹3,092 crore in the same period of last year. The company reported its highest ever third-quarter revenue of ₹34,968 crore, up by 4% on yearly basis.
Vedanta shares closed lower by 1.06% at ₹298.1 apiece on the NSE.