SEATTLE (Scrap Monster): India-based mining company Vedanta Limited expects annual aluminium production in India to touch 5 million tonnes over the period of next five to six years. This translates to 25% surge from current production level of 4 million tonnes of the country.
According to Deeptaman Mukherjee, Directort of Commodities at Vedanta, the above assumption is based on the multitude of projects that the company is currently working on in the country. Speaking at the virtually held AZ China Aluminum Conference, he added that the production could even increase to up to 5.6 million tonnes of aluminium, in the event of entry of new market participant.
Vedanta is currently carrying out expansion of its Lanjigarh alumina refinery in the eastern state of Odisha. The $630 million capital expenditure project to raise the annual capacity of the refinery from 2 million tonnes to 5 million tonnes of alumina is currently under progress. The boost in output is expected to be achieved over the next 12-18 months, which in turn could reduce the company dependence of alumina imports. It must be noted that the company had produced 1.9 million tonnes of aluminium in 2020.urrent level of 2.6 million tonnes.
Meantime, Fitch Solution cited India as the ‘stand-out growth market’ for aluminum market in the forthcoming years, with usage likely to more than triple to 9.5 million tonnes by 2030, compared to 2.6 million tonnes this year.
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