The captive power plant is set up with an investment of about Rs 5,000 crore, Chhattisgarh now the 3rd largest aluminum producer in India
IndiaCSR News Network
RAIPUR: Bharat Aluminium Company Limited (BALCO), a subsidiary of Vedanta’s SSLT today announced that it has received approval from the state government of Chhattisgarh, to start a 1,200 megawatts (MW) captive power plant (4 units of 300MW each). The move will boost BALCO’s annual aluminium production capacity to 5.7 lakh metric tonnes from the current 3.5 lakh and also make Chhattisgarh, India’s third largest aluminium producer.
“We are very grateful to the Government of Chhattisgarh for the approval granted, at a time when we are celebrating our Golden Jubilee Year. It enables us to further ramp up our state-of-the-art aluminium smelter, thereby taking the aluminium capacity to 570,000 MT per annum. The power plant and Smelter will significantly contribute to the state exchequer and generate sizable employment besides triggering growth of downstream industry in the state. BALCO is a national asset and this new power plant will significantly aid in nation building,” said Ramesh Nair, CEO & Whole Time Director, BALCO.
The captive power plant, set up with an investment of about Rs 5,000 crore, is additional to two existing plants having the capacity of 270 MW and 540 MW each. Post operation, the plant, along with BALCO’s aluminium smelter, is expected to contribute about Rs 250 crore to the state exchequer in form of various taxes.
BALCO is the only producer of aluminium in Chhattisgarh and now with the said capacity augmentation, the state is all set to contribute for more than 25 percent of India’s total aluminium output. BALCO had commenced operations with an annual production of 1 lakh MT Aluminium in 1965.
The power project is also expected to give downstream industries an impetus to grow by nearly 4 times, which will further increase the employment in the state. The company’s focus on community development will be further strengthened.
Bharat Aluminium Company Limited ( BALCO ) an unit of Sesa Sterlite Limited (formerly known as Sesa Goa Limited), a subsidiary of Vedanta Resources plc. is one of the world’s leading diversified natural resource companies. With business operations in India, South Africa, Australia, Ireland, Namibia, Liberia and Sri Lanka; Sesa Sterlite is a leading producer of Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Aluminium and Commercial Power.
Vedanta is a diversified natural resources company, whose business primarily involves exploring and processing minerals and oil and gas. The company produces oil and gas, zinc, lead, silver, copper, iron ore, aluminium and commercial power and has a presence across India, South Africa, Namibia, Ireland, Australia, Liberia and Sri Lanka.
Sesa Sterlite Limited (SSLT) formerly known as Sesa Goa Limited, is the Indian subsidiary of Vedanta Resources Plc, a London-listed company. Sustainability is at the core of SSLT’s strategy, with a strong focus on health, safety and environment and on enhancing the lives of local communities.
SSLT is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.