Newly-appointed Vedanta Limited, Jharusguda Chief Executive Officer Chhavi Nath Singh on Saturday said the aluminium company would like to have its captive bauxite and coal mines in coming days in order to meet its raw material needs and continue supplying aluminium at the cheapest rate in the country.
“We are still importing 40% of our bauxite requirement from outside the country. Once we have a captive mine, we will be able to meet our need and produce the ceapest aluminium in the country,” said Singh at a media interaction here.
Regarding the company’s three captive power plants (CPPs), he said power generation has been hit due to slow supply of coal from the MCL after the Talcher strike. “We will certainly go in for having a captive coalmine through auction process in coming days,” said he.
Singh said the demand for aluminium would certainly increase as use of plastic is gradually being phased out. While the aluminium demand has remained stagnant now, its need in food packaging and railway wagon making would grow further, he said.
Stating that the Vedanta Jharsuguda unit is now producing 1.4-MTPA aluminium against its capacity of 1.75 MTPA, the CEO, who has 35 years of experience in the corporate sector, said efforts are now being made to reach the targeted capacity first.
Once the issue of raw material is settled, the firm would go for its proposed expansion.
He opined that there should be a very positive mining policy for the development of the country.
Regarding Vedanta’s downstream plan, Singh said, “We have a plan to establish an automobile accessories making plant at Jharsuguda. While we have applied for 250 acres of land for it, the Government is yet to hand over it. The land is awaiting forest clearance now,” he added.