Supreme Court gave its nod to Vedanta to take part in alumina sale tenders floated by National Aluminium Company (Nalco). Nalco had challenged Odisha High Court’s decision that allowed Vedanta to take part in the tenders for the sale of its surplus alumina. The lower court had accepted Vedanta’s argument and announced that it is eligible to participate in the tenders.
A three-judge panel ordered that Vedanta’s foreign arm can bid for Nalco’s alumina tenders meant for exports. If Vedanta wins the bid, the company can use alumina at its Jharsuguda plant in Odisha, the order stated. Vedanta to collect delivery of alumina from Vishakhapatnam port.
Vedanta’s plans to increase its aluminum production capacity to 3mn mt was stalled due to unavailability of bauxite. Vedanta was supposed to secure bauxite from Niyamgiri mines which was interrupted following local protests.
Nalco’s refinery has capacity to produce 2.28mt mt of alumina a year. It exported 1.24mn mt of alumina to Middle East, Southeast Asia and China in the fiscal year 2018-19.