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Vedanta to invest Rs. 20,000 cr. in WB

KOLKATA: West Bengal on Wednesday received a major thrust in its industrialisation drive with the Vedanta Group announcing its plans to invest Rs. 20,000 crore to set up a 6.5 lakh tonnes per annum (tpa) aluminium smelter and a 3,000 MW power plant. This is the State’s second biggest project and the first aluminium project.

Group Chairman, Anil Agarwal, told reporters after the agreement signing ceremony that while the entire project would be completed in three years, the power plant would come up in two phases. He said it had not been decided as to which of the group companies would invest in this project, which would come up on 1,000 acres at Bidhanbag near Ranigunj.

The company would get ready possession of 275 acres by taking over the land of West Bengal Aluminium Corporation, a 30,000 tpa plant which was set up in 1952 in this location and was the country’s first integrated aluminium manufacturing facility.

West Bengal Chief Minister, Buddhadeb Bhattacharjee, said the government would help the global group acquire the remaining land. Pointing out that this was part of the government’s plans to revive the State’s past glory in all sectors, he said an aluminium park would be set up closeby to create job opportunities.

“We need to create jobs and we will try to mobilise small and medium industries to invest in this park,” the Chief Minister said.

Mr. Agarwal said Vedanta was the largest producer of six metals, including aluminium, zinc and copper and was a cash-rich company.

He said funding the project would not be a problem and indicated that this would be through debts and internal accruals initially.

He also said that reviving West Bengal’s aluminium industry would give the company satisfaction since it had earlier revived the Madras Aluminium Company and Balco.

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