<p>Vedanta on Tuesday said it will invest Rs 6,611 crore over the next two years to ramp up the smelter capacity of Balco.</p>.<p>Bharat Aluminium Company (Balco) is a Vedanta Group company.</p>.<p>In addition, its carbon plant adequacy business at Jharsuguda, Odisha, will set up a new carbon facility at a cost of Rs 635 crore.</p>.<p>"Vedanta...has announced a major expansion at Bharat Aluminium Company's (Balco) smelter capacity, which will involve an investment of Rs 6,611 crore over the next 18-24 months," the mining major said in a statement.</p>.<p>Balco's smelter capacity, as a result, will increase by 414 kilo-tonnes per annum (KTPA), taking its total capacity to close to one million tonne.</p>.<p>With this fresh investment, Balco's value-added product portfolio will increase to 92 per cent.</p>.<p>"Balco's expansion is a important project for us. We hope to ramp up the smelter capacity over the next 18-24 months. After this expansion, Vedanta's aluminium capacity will increase to 2.8 million tonnes," Vedanta Group CEO Sunil Duggal said.</p>.<p>In February this year, Vedanta's board of directors had approved the expansion of Lanjigarh Alumina Refinery to five million tonnes per annum (MTPA) from the current two MTPA, at a cost of Rs 3,780 crore.</p>.<p>After the completion of this project, Lanjigarh Alumina Refinery will become one of the world's largest single-location alumina refinery complexes.</p>.<p>Vedanta's aluminium business posted a strong momentum during the first quarter of the ongoing fiscal with the highest-ever production of 549 kilo-tonnes (KT), and a margin of 36 per cent.</p>.<p>The company has recently been awarded the Kuraloi (A) North coal block in Jharsuguda, which will be an optimal fit for its smelter unit.</p>.<p>The company is focused on reducing its cost of production by nearly $300 per tonne to around $1,200 per tonne in the next two years. This will help improve the realisation and profitability from the aluminum business significantly, Duggal said. </p>
<p>Vedanta on Tuesday said it will invest Rs 6,611 crore over the next two years to ramp up the smelter capacity of Balco.</p>.<p>Bharat Aluminium Company (Balco) is a Vedanta Group company.</p>.<p>In addition, its carbon plant adequacy business at Jharsuguda, Odisha, will set up a new carbon facility at a cost of Rs 635 crore.</p>.<p>"Vedanta...has announced a major expansion at Bharat Aluminium Company's (Balco) smelter capacity, which will involve an investment of Rs 6,611 crore over the next 18-24 months," the mining major said in a statement.</p>.<p>Balco's smelter capacity, as a result, will increase by 414 kilo-tonnes per annum (KTPA), taking its total capacity to close to one million tonne.</p>.<p>With this fresh investment, Balco's value-added product portfolio will increase to 92 per cent.</p>.<p>"Balco's expansion is a important project for us. We hope to ramp up the smelter capacity over the next 18-24 months. After this expansion, Vedanta's aluminium capacity will increase to 2.8 million tonnes," Vedanta Group CEO Sunil Duggal said.</p>.<p>In February this year, Vedanta's board of directors had approved the expansion of Lanjigarh Alumina Refinery to five million tonnes per annum (MTPA) from the current two MTPA, at a cost of Rs 3,780 crore.</p>.<p>After the completion of this project, Lanjigarh Alumina Refinery will become one of the world's largest single-location alumina refinery complexes.</p>.<p>Vedanta's aluminium business posted a strong momentum during the first quarter of the ongoing fiscal with the highest-ever production of 549 kilo-tonnes (KT), and a margin of 36 per cent.</p>.<p>The company has recently been awarded the Kuraloi (A) North coal block in Jharsuguda, which will be an optimal fit for its smelter unit.</p>.<p>The company is focused on reducing its cost of production by nearly $300 per tonne to around $1,200 per tonne in the next two years. This will help improve the realisation and profitability from the aluminum business significantly, Duggal said. </p>