INSUBCONTINENT EXCLUSIVE:
up from Visakhapatnam port, it said.
Nalco had challenged an Odisha High Court decision last year that allowed Vedanta to take part in the
tenders for the sale of its surplus alumina
export-oriented zone.
Vedanta has an alumina refinery and a smelter in Odisha but lacks adequate bauxite supplies after the tribes of
Niyamgiri stopped its bid to mine in the remote hills
That forced the company to buy from other local miners or import alumina
Alumina is of increasing value to the company as it embarks on a plan to raise aluminum smelter production capability by 30% to 3 million
tons in the next couple of years.
Nalco exported 1.24 million tons of alumina in the year ended March 2019
Its refinery has the capacity to produce 2.28 million tons of alumina a year and exports its surplus to buyers mostly in the Middle East,
Southeast Asia and China.
Shares of Vedanta gained as much as 3.5% to the highest since September in Mumbai, while Nalco jumped 2%
The benchmark S-P BSE Sensex was little changed at 12:56 p.m
