New Delhi: Vedanta Aluminium Metal Ltd (VAML), which recently got listed on the BSE and NSE, on Monday said it plans to double its production capacity to 60 lakh tonnes per annum (LTPA) to meet rising demand from infra, automotive and electrification sectors.
VAML officially commenced trading as an independent listed entity on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) from June 15, following the successful completion of Vedanta Group's demerger, which became effective on May 1.
The listing marks a major milestone in the company's evolution, creating a focused, pure-play aluminium business with enhanced strategic flexibility and stronger long-term growth visibility, the company said in a statement.
"With its vision to double the existing production capacity to 60 lakh tonnes per annum, deep backward integration and structural cost advantages, it is set to achieve among the lowest costs of production globally while upholding the highest standards of quality, serving demand across key global markets and benefiting from long-term tailwinds in infra, automotive, electrification, aerospace and advanced manufacturing," the statement said.
The company's current production capacity is 30 LPTA.
The company is also poised to emerge as the largest aluminium producer across the US, Europe, the Middle East, Australia, and Africa.
Vedanta Aluminium operates one of the world's largest alumina refineries at Lanjigarh and one of the world's largest aluminium smelters at Jharsuguda in Odisha, and the country's iconic aluminium producer Bharat Aluminium Company Limited (BALCO) at Korba in Chhattisgarh. Further, it has captive bauxite and coal resources and nearly 4.5 GW of captive power generation capacity, supported by an expanding downstream manufacturing ecosystem.
Vedanta Aluminium currently contributes 50 per cent of the country's aluminium production and has developed a diverse customer base across over 60 countries worldwide.
