Vedanta charts Rs 13,226-cr expansion plan in India
Will ramp up its aluminium capacity to 3.1 MTPA by FY28
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New Delhi: Anil Agarwal-led Vedanta Ltd plans to pump in Rs13,226 crore to ramp up its aluminium capacity to 3.1 million tonnes per annum (MTPA) by FY28, sources said. The current capacity of the company is 2.4 MTPA. Vedanta Ltd is anchoring aluminium at the centre of its growth strategy, with an expansion plan that will take capacity to 3.1 million tonnes per annum (MTPA) by FY28, sources said. The company is planning to invest Rs13,226 crore over the next few years for this expansion, they said. Aluminium, the world’s second-most consumed metal after steel, is becoming increasingly critical to electric mobility, renewable energy, urban infrastructure, and aerospace.
Vedanta, the country’s leading aluminium producer with over 50 per cent share in domestic market, is also set to ensure aluminium remains the single biggest contributor to its target of $8bn-$10 billion EBITDA at group level by FY28, as per its recent exchange filing.
