Bhubaneswar: Vedanta Ltd (Aluminium Business), which has major two units of major plants – a refinery at Lanjigarh and a smelter unit at Jharsuguda, has signed a Memorandum of Understanding (MoU) with Gujarat Alkalies and Chemicals Ltd (GACL), for exploring various business opportunities in the areas of Caustic-Chlorine and other allied businesses.
The MoU aims to recognise the potential of adding value to the businesses of both Vedanta Aluminium and GACL, by adopting a collaborative approach based on their complimentary skills, strengths, and common business interests to achieve synergy. Accordingly, both companies desire to explore opportunities for co-operation in greater detail so that resources can be pooled together in a mutually beneficial manner.
“This is also in line with Vedanta Aluminium’s efforts towards vertical integration,” said an official communiqué of Vedanta Ltd.
With this MoU, both companies have, in-principle, agreed to jointly explore business opportunities either in the form of a joint venture project or through contractual arrangements of mutual interest.
One of the major global aluminium majors led by industrialist Anil Agarwal, Vedanta Lt saw its Financial Year 2022-23 ending with the historical highest aluminium production at 2.27 million tones. The year also saw us launch India’s first low-carbon or ‘green’ aluminium, branded ‘Restora.’
“Restora stands testimony to our commitment to marry manufacturing excellence with sustainability, as we continue to tailor-make our product offerings to fulfill our customers’ requirements perfectly. Recently, we launched Vedanta Aluminium Park near our mega aluminium smelter at Jharsuguda in Odisha. It will be one of India’s largest metal parks and provide aluminium-based industries a plethora of unmatched advantages for creating high-quality products at par with global quality standards, thus making in India for the world,” said Mr Rahul Sharma, CEO, Vedanta Ltd – Aluminium Business.
The company is quite optimistic about FY 2023-24. “The momentum of the global transition to clean technologies is accelerating. This shift will be metal-intensive, increasing demand for sustainable materials like aluminium. The global aluminium industry is already the fastest growing metal industry today. India’s demand is expected to double to approximately 8 million tonnes by 2030, driven by a surge in building and construction, transportation, packaging, electrical, defense, aerospace and aviation,” said Sharma, adding, the company was ramping up production to add new product lines at our aluminium smelters at Jharsuguda and BALCO in Chhattisgarh to diversify its product mix to cater to sunrise sectors such as high-tech manufacturing, electric mobility, renewable energy, and more.
“We are also investing in the digital transformation of our plants and processes, leveraging green technologies, diversifying our energy mix to include renewables, and working towards our vision of net zero carbon,” the CEO informed.
