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Vedanta plans smelter in Orissa
By Our Special Correspondent
MUMBAI,
FEB. 10
. Vedanta Resources Plc today announced its plans to set up a greenfield five lakh tonnes per annum aluminium smelter in Orissa with 1000 MW associated power facilities, at an investment of Rs. 7,000 crores.
This investment is in addition to Vedanta's ongoing investments of Rs. 10,000 crores in expansion projects of its businesses at Sterlite, Balco, Hindustan Zinc and Vedanta Alumina. "We have already brought in foreign direct investment of $1.5 billion to fund our existing projects,'' said Anil Agarwal, CEO, Vedanta.
The new project will be implemented in two phases in the next 3-5 years.
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