The Bharat Aluminium Company Limited (BALCO)- a member of Vedanta Resources plc - signed on August 8 a Memorandum of Understanding (MoU) with the Chhattisgarh government to set up 6.5 lakh ton per annum smelter plant in its existing complex in Korba district. |
On completion of the new smelter plant project, BALCO's total aluminium output would increase tpa to 10,00000 tpa---making the company the only one in the world to produce 10 lakh tpa aluminium from a single location. |
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Additional chief secretary (industries) with the Chhattisgarh government P Joy Oommen signed the Mou on behalf of the state government while BALCO's chief executive officer Pramod Suri represented the company. |
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The function, held at a hotel today evening, was attended by Chief Minister Dr Raman Singh and Vedanta chairman Anil Agrawal. |
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The company would invest Rs 8000 crore for its new smelter plant that would be completed in next three years. |
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According to company officials, the plant would come up in the same complex where the existing smelter had been located in Korba""about 220 km from the state capital. |
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The new smelter plant is part of Vedanta's major expansion plan. |
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The London-listed metals and mining major with aluminium, copper and zinc operations in UK, India and Australia took over the management control of the BALCO in 2001 when union government divested 51% stake of the public sector enterprise that was incorporated in the year 1965. |
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Earlier, Vedanta Resources went for an expansion soon after taking over the company. |
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The total aluminium output of the company after expansion went up from 135,000 tpa to 350,000 tpa. |
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The company also set up new power plant of 540 Mw to supply the facilities. The Vedanta group on October last had sealed another pact with the state government to set up 1200 Mw power plant. |
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The company also signed an agreement with the state government today to set up Vedanta cancer hospital and research center at the outskirts of the state capital as part of its commitment for social service. |
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