Archive for the 'Vedanta' Category

L & T receives order of 1372 crores for three plants in Orissa

Aluminium, Angul, Anil Agarwal, Anugul- Talcher - Saranga- Nalconagar, Birlas, Kalahandi, L & T, Steel, Vedanta No Comments »

Following is  from a report in Economic Times.

MUMBAI: Larsen & Toubro shares edged higher Tuesday after it won orders worth Rs 1372 crore from aluminium and steel makers.

The orders were received from Vedanta Aluminium, a part of Vedanta group, Utkal Alumina International and Bhushan Steel, it said in a statement.

The Rs 516 crore order from Vedanta Aluminum was for setting up of a 3 million tonne per annum alumina refinery at its Lanjigarh plant in Orissa. Utkal Alumina’s order was worth Rs 455 crore in which the engineering and construction firm would set up a 1.5 MTPA green field alumina refinery at Doraduga in Orissa.

Furthermore, L&T has secured an order worth Rs 401 crore from Bhushan Steel for civil, structural, equipment, erecting and piping works at Angul in Orissa.

Vedanta’s 300 crore township project near Jharsuguda to be comparable to RIL’s at Jamnagar

Aluminium, Business Standard, Industrial Township, Jharsugurha, Jharsugurha- Brajarajnagar- Belpahar, Vedanta 1 Comment »

Following is from a report in Business Standard.

In the midst of implementing a $4 billion aluminium project in Orissa, NRI Anil Agarwal-led Vedanta group, has started a Rs 300-crore township project with the support of a Chinese firm to accommodate its over a 1,000 engineers and technical workforce.

Claiming that the project would be comparable if not better than what Mukesh Ambani-led RIL developed at Jamnagar in Gujarat, group company Vedanta Aluminium is importing services of China’s leading architect firm ECADI at a time when reality majors are reeling under a slump.

"We at Vedanta feel it is our duty not only to provide a conducive working atmosphere, but also best living comforts," company’s Director and CEO M Siddiqi said, adding, the township project would be completed by end of next year.

The township project, a concept popularised by PSUs in India, is crucial for the overall aluminium unit, first stage of which has already been commissioned and the second stage is targeted for completion next year, to attract and retain talent in the backward area of Jharsuguda in Orissa.

The Vedanta project envisages providing sophisticated and urban living accommodations and amenities to over 1,400 employees, who are already stationed at Jharsuguda aluminium plant.

The metals and mining major plans to pump in a whopping $4 billion to ramp up the capacity of its aluminium smelter to 1.8 million tonne by 2010.

At present, its operational capacity is 2,50,000 tonne, which would go up to 5,00,000 tonne by March 2009.

For meeting its power requirement, the company has set up a 675 MW power plant, the capacity of which will go up to 1,215 MW post-commissioning of the smelter’s first phase expansion.

Vedanta has a good CSR advisory board

Corporate Social Responsibility (CSR), Vedanta No Comments »

Following is from a news item in Kalinga Times.

“Vedanta is already doing a remarkable performance in its CSR activities and it should come with more such initiatives in the near future,” said S.B. Mishra, former Chief Secretary of Odisha while addressing at the first Corporate Social Responsibility advisory body meeting of Vedanta Aluminium Limited here on Saturday.

Noted writer Pratibha Ray also expressed her satisfaction over the CSR initiatives of Vedanta and advised the company authorities to lay more emphasis towards development and empowerment of women in the plant locations. She particularly gave thrust on women taking up higher responsibilities in society and that all the trainings should not be confined to only basic subjects.

Speaking on the occasion, veteran actor Bijay Mohanty expressed his willingness to visit the plant locations along with the other members and wanted to personally interact with the localities so that the realistic need analysis can be made.

The meeting was convened by the Whole Time Director and CEO of Vedanta Aluminium Sector M. Siddiqi.

Speaking on the occasion, Siddiqi said “Vedanta always strives for improving the living standards of the people on a sustainable basis. The efforts of the company have started showing result on the ground. But this is only the beginning. The wealth of expertise and experience of the Advisory Board Members will carry our CSR efforts to greater heights and show us the right direction”.

The advisory board comprises of 10 honorary members belonging to the elite section of society. The members on the board include P.K Jena, Chairman, Institute of Advance Technology & Environmental Studies; S. B. Mishra and Sahadev Sahoo (both former Chief Secretaries of Government of Orissa); O N Mohanty, Vice-Chancellor, Biju Patnaik University of Technology; A.B. Tripathy, retired Director General of Police; A. B. Ota, Director SC &ST Research and Development Centre, Government of Orissa; actor Bijay Mohanty, besides three women of repute Rita Ray, Professor, Department of Sociology, Utkal University; Namita Panda, Chairperson State Women Commission; and writer Pratibha Ray.

All the 10 members of the board attended the meeting today and shared their thoughts on CSR with the top Management of Vedanta Group.

According to the company, the advisory board is meant to act as a bridge between the company and the people of Odisha. The board will regularly monitor the CSR initiatives of the company and would ensure that the benefits of CSR efforts reach out to the society at large.

Supreme court allows bauxite mining by Vedanta/Sterlite

Aluminium, Bauxite, ENVIRONMENT, Kalahandi, Pragativadi, Supreme Court, Vedanta No Comments »

Following is an excerpt from a report in Pragativadi.

The Supreme Court on Friday cleared the decks for Anil Agarwal promoted Vedanta Resources to mine bauxite from the ecologically fragile Niyamgiri hills for its proposed Rs 4,000-crore alumina project at Lanjigarh in Kalahandi district.

Vedanta had sought clearance for diversion of 660.749 hectare of forest land for mining purposes to feed its alumina plant.

The special forest bench comprising Chief Justice K G Balakrishnan, Justices Arijit Pasayat and SH Kapadia allowed Sterlite to go ahead with bauxite mining.

The application of Vedanta is allowed, the Supreme Court bench said in a statement. 

However, it asked the ministry of environment and forest to proceed in accordance with law.

… Vedanta wants to dig open-cast mines in the Niyamgiri hills located in Kalahandi district near its project area. 

Vedanta promoted Sterlite Industries had sought clearance for diversion of 660.749 hectares of forest land for mining purposes to provide required raw material for its plant.

Vedanta’s steel plan for Orissa

Keonjhar, Steel, Vedanta No Comments »

Following is from a report in SteelGuru.com.

It is reported that Vedanta has started land acquisition for its first ever steel venture at Keonjhar in Orissa. It also hopes to start its third aluminum smelter in India by the end of June 2008. Once in place, the group’s smelter capacity would go up to almost 1 million tonne.

Vedanta has already floated an outfit called Sterlite Iron & Steel Company for undertaking the INR 12,500 crore project in Orissa and has identified 3,000 acres for the proposed 5.1 million tonne venture.

Official sources said that "This project will be like a forward integration for the group in Orissa as Sesa Goa has iron ore mines in the state which could be utilized for the project. The preliminary planning is on for an integrated environment management program and production requirements."

The source added that "Vedanta is investing INR 8,400 crore in phases in this project. The smelter will have a capacity of 50,000 tonne per year In the first phase, 25,000 tonne and a portion of 1215 MW captive power plant will be operational. The total employment in the project will be around 6,000 people."

Supreme court puts stringent condition for mining lease to Sterlite/Vedanta: People benefit

Bauxite, ENVIRONMENT, Kalahandi, Vedanta No Comments »

Following is an excerpt from a report in sify.com.

An environment regulatory committee set up by the Supreme Court has recommended a stringent mechanism for granting mining lease to Sterlite Industries, the parent company of the London-based Vedanta Alumina Ltd, to mine bauxite from the eco-sensitive Niyamgiri hill area for its proposed Rs 4,000 crore aluminium project in Orissa.

As against the plea by the Sterlite India, the Central Empowered Committee suggested that the majority 51% share in the special purpose vehicle — ‘Lanjigarh Scheduled Area Development Foundation’ — should be with the Orissa government and 24.5% each should be with the Orissa Mining Corporation (OMC) and Sterlite.

The Sterlite had suggested that its own share should be 49%, while the Orissa government and OMC should hold 26% and 25%, respectively.

A bench of chief justice K G Balakrishnan, justices Arijit Pasayat and H S Kapadia directed Sterlite and the Orissa government to file affidavits on the formation and constitution of the special purpose vehicle.


Sterlite has sought direction from the court to accord clearance of the forest diversion proposal submitted by Orissa Mining Corporation for diversion of 660.749 hectare of forest land to undertake bauxite mining on Niyamgiri Hills in Lanjigarh for its Rs 4,500 crore Alumina plant in Orissa.

Sterlite has agreed to give 5% of the annual profits before tax and interest from the Lanjigarh project, consisting of bauxite mining and alumina refinery, or Rs 10 crore per year, whichever is higher, to the Foundation every year from April 1, 2007.

Sterlite also said it would make a payment of the net present value (NPV) of Rs 55 crore and Rs 50.3 crore towards wildlife management plan for conservation and management of wildlife around the Lanjigarh mine and Rs 12.2 crore towards development for the tribal people.

The committee said there has to be a balance between conservation and development. “The balance between these two would thus lie in permitting conservation not merely for private profit but in a manner that maximises the public interest component in the activity,’’ it said. …

Vedanta Aluminium signs MOU with Apollo for two units at Lanjigarh and Jharsuguda

Anil Agarwal, HEALTHCARE and HOSPITALS, Jharsugurha, Kalahandi, Vedanta 2 Comments »

Following is an excerpt from a news report in Pioneer.

Vedanta Aluminium Limited signed an MoU with the Apollo Health & Life Style Limited on Tuesday to open two units of The Apollo Clinics at Lanjigarh and Jharsuguda.

The MoU was signed at the Vedanta office in Bhubaneswar by M Siddiqi, Director and CEO, Aluminium Sector, Vedanta Group, and Ratan Jalan, CEO, Apollo Health & Life Style Ltd, in the presence of Vedanta Aluminium CFO Virendra Agrawal, GM and Head, PR & CSR, Prashanta Hota and other officials form both sides.

The MoU deals with the establishment and management of the two well-equipped Apollo Clinics, which would be fully supported by Vedanta Aluminium. Funded fully by Vedanta, the two units have accepted the responsibility of recruiting doctors, providing all kinds of diagnostic facilities, specialist treatment, extending other modern healthcare facilities and running the clinics at both locations.

Involving a total investment of about Rs 5 crore, the day-to-day operations would also be fully funded by Vedanta.

Besides rendering quality healthcare services to the project-impacted people and employees of Vedanta Aluminium and their dependents, the clinics would be running a Sick Bay Unit in the plant premises and regularly conduct Outreach Programmes in the periphery villages.

Maytas and Orissa

Aluminium, Anil Agarwal, Jharsugurha, Jharsugurha- Brajarajnagar- Belpahar, Others, Satellite and Residential townships, Thermal, Vedanta No Comments »

Following is extracted from a report in sify.com.

Maytas Infra Ltd (MIL) is an infrastructure development, construction and project management company with more than two decades of experience in execution of complex & challenging landmark projects across the country. The company recently forayed into segments such as airports, seaports, oil and gas pipelines. MIL plans to diversify into new verticals like mining and related activities, manufacture of construction material and providing advisory & consultancy services.

… MIL’s new projects include railway siding project for Vedanta Industries in Orissa, Chennai MT Project & Hyderabad MRTS project.

… Its current projects include Vedanta Aluminium’s, Residential Township in Orissa worth Rs. 232.7 crore …

… MIL in JV with other firms is currently working on setting up 464MW Gas based Gautami Power project in AP, 100MW Sorang Hydro Power Project in Himachal Pradesh, 300MW KVK Nilachal thermal power project in Orissa and 56MW coal washery reject based SV Power project.

 

 

Vedanta news: IPO for Sterlite energy; plans for a steel plant in Keonjhar

Anil Agarwal, Keonjhar, Steel, Thermal, Vedanta 1 Comment »

Following are some excerpts.

Business Standard:

Non-ferrous metals giant Vedanta Resources is planning to enter the Indian steel sector with a 5 million tonne plant at an investment of about Rs 24,000 crore in Keonjhar district of Orissa and envisaging its commissioning by 2012-13.

"We are impressed at the growing consumption of steel in India and are keen to enter its steel sector. We are planning to build a 5 million tonne steel plant at Keonjhar district of Orissa. If we find a suitable partner, we should be able to commission it by 2012-13 at an investment of about Rs 24,000 crore," company sources said.

Sify.com:

Vedanta Resources is planning to make an initial public offer (IPO) to raise $1 billion for Sterlite Energy, a subsidiary of its group company and Indian non-ferrous metals producer Sterlite Industries (India) Ltd.

"We are planning for a $1-billion IPO for Sterlite Energy in the next few months," Vedanta Resources Chairman Anil Agarwal told reporters here Wednesday.

… Agarwal said the London Stock Exchange-listed Vedanta Resources is also considering options to sell shares via a pre-IPO placement.

He added that the company plans to participate in coal-based power generation projects through the subsidiary, Sterlite Energy Ltd.

"We are looking at 10,000 MW commercial power generation by 2012," he said. The power plants are likely to be set up in Orissa and Jharkhand, he said.

Supreme court sets conditions for Vedanta regarding its aim to mine in the Niyamgiri hills

Aluminium, Bauxite, ENVIRONMENT, Kalahandi, Supreme Court, Vedanta No Comments »

Following is an excerpt from http://www.hemscott.com/news/latest-news/item.do?newsId=53878217759003

… India’s Supreme Court set new conditions for the project.

Vedanta’s battle to mine bauxite to feed the refinery in forests considered sacred by indigenous people has been seen as a test case in India, pitting industrial development against the interests of local inhabitants and the environment.

The Supreme Court refused to let the project in the eastern state of Orissa go ahead in its present form on the grounds that it could affect ’sustainable development’ and asked Vedanta to come back with a new plan.

The court said Vedanta would have to give money for forest destruction, wildlife management and tribal development totalling around 180 mln usd.

Other conditions would include handing over 5 pct of pretax profits annually from its mining projects across India to the Orissa government.

Vedanta would also have to set up a ’special purpose vehicle’ to ensure that environmental regulations were met, the court said.

Vedanta must file an interim application within eight weeks saying if it agreed to the conditions and the Supreme Court would reconsider the project, the court bench ruled.

Vedanta has been fighting for three years to obtain clearance for open cast mining of vast deposits of bauxite in the densely forested Niyamgiri hills to feed the 900 mln usd alumina refinery it has built nearby.

There was no immediate comment from Vedanta on the court ruling but it has in the past denied any wrongdoing and argued its projects would be welcomed by residents of the desperately poor region.

Following is an excerpt from Pioneer that gives the first reaction from Vedanta officials in Orissa on the supreme court judgment.

Reacting to the judgment, vice-president of Vedanta Alumina Ltd AK Samal said the Supreme Court had reiterated its emphasis on sustainable development but has no objections in principle to mining at Niyamgiri. However, the court has stipulated certain conditions to be complied by the project proponent.

He said the apex court had desired that Sterlite Industries, the flagship company of Vedanta Resources PLC in India, duly enlisted on the Indian Stock Market be a part of the Special Project Vehicle (SPV) for mining at Niyamgiri and Scheduled area development at Lajigarh, where the company’s alumina refinery is located. "We will take all steps to immediately abide by the directions and conditions set out by the SC," he said, adding that the company was still waiting for a copy of the judgment.

Samal said his company was committed to the cause of the social uplift through reasonable industrialisation.

…. Secretary of the Orissa Wildlife Society Biswajit Mohanty, who had filed the petition against the Centre’s decision to allow Vedanta to set up its aluminum refinery and undertake mining activities, said the SC had taken note of their concern. On behalf of the Lok Abhiyan, noted activist Prafulla Samantray had also filed a petition before the Central Empowered Committee (CEC) of the SC.

The social activists filed the petition alleging that if Vedanta was allowed to undertake mining activities, the whole biosphere of Niyamgiri would be affected. The two major rivers, Bansadhara and Nagabali, which originate from the hill, would disappear. Thus it would affect the whole tribal population of the southern parts of the State, they argued.

Taking note of the serious allegation, the CEC had sent a two-member expert team (SK Chadda and SC Shrama) to make a spot inquiry. The team visited Niyamgiri in December 2004. It submitted its report in January 2005. Later, the CEC started the hearing of the petitions. The CEC visited Lanjigarh, where the plant is coming up. It submitted its report to the SC in September 2005, reportedly suggesting that Vedanta should not be allowed to take up mining activities.

The Ministry of Environment and Forests (MoEF) granted environmental clearance for the project on September 22, 2004, and in its letter clearly specified that the source of bauxite for the refinery would be the Niyamgiri mine near Lanjigarh. This led to a furore among environmentalists, who argued that as it came under the Schedule V area of the Constitution, the environment clearance granted by MoEF and forest clearance should be reviewed.

 

Supreme Court asks Vedanta’s Indian unit Sterlite to plough 5% of its profits towards local development

Bauxite, Value Addition, Vedanta No Comments »

Update: Livemint has a more succinct report.

The court suggested that VAL’s holding company, Sterlite Industries (India) Ltd, file an affidavit with three undertakings:

  • commit to pay Rs50 crore as a security deposit to the court;
  • agree to pay 5% of the net profit accruing from all its mining activities or Rs10 crore, whichever was greater, towards tribal development and environmental safeguards; and
  • present a report on employment opportunities that the project would generate.

Following is an excerpt from a Reuter’s report on this.

The Supreme Court set new conditions on Britain’s Vedanta Resources Plc and its Indian unit on Friday before allowing it to mine bauxite in sacred, forested hills in the east of the country.

Vedanta wants to dig open-cast mines in the Niyamgiri hills in Orissa to feed an alumina refinery it has already built in the area, as part of an $800 million project expected initially to produce 1 million tonnes of alumina per year.

At an earlier hearing, Vedanta had promised to invest 1.12 billion rupees ($28.4 million) to develop the poor region, but a three-judge bench said it wanted this commitment to be made by the firm’s Indian unit, Sterlite Industries Ltd.

“What is Vedanta?,” the bench said. “Vedanta is not listed in India. So let Sterlite give an undertaking.”

Thousands of tribal people say the mine will destroy hills they consider sacred, force them from their homes and destroy their livelihoods, which are based on farming millet, hunting and collecting fruits and spices from the forests.

Environmentalists say the open-cast mine would also wreck the rich biodiversity of the remote hills and disrupt key water sources that supply springs and streams in the area and feed two rivers that irrigate large areas of farmland.

The court asked Sterlite to pay five percent of its annual profits from mining throughout India to the state government to be ploughed into developing the region.

It also asked the company to deposit 500 million rupees ($12.7 million) with the state government, and specify how many local people would be employed in the project.

When Sterlite objected to the conditions, the court adjourned the case until the company made a formal response.

The state and central government both back the plan, as part of efforts to industrialise and exploit the mineral resources of underdeveloped eastern India.

The Environment Ministry told the Supreme Court earlier this month that the mining would only affect a marginal amount of forest land.

It also promised “special efforts” would be made to manage and conserve wildlife in the area, which is part of an elephant corridor, shelters leopards and is the only known home in Orissa of the rare golden gecko.

If the state government and central government back this plan then they should require this from all mining companies in India not just Sterlite. It would be an excellent move.

Vedanta Aluminium plans a 50 bed hospital in a village near Jharsuguda

Aluminium, Anil Agarwal, Jharsugurha- Brajarajnagar- Belpahar, SOCIAL SUPPORT, CSR, WELFARE, Vedanta 1 Comment »

Following is an excerpt from  a New Indian Express report.

At a public hearing at Badmal bazaar here on Thursday, Vedanta Alumina Limited (VAL) allayed fears of villagers regarding issues like pollution and periphery development after its proposed expansion.

… The villagers were told that a report will be submitted to the Central Pollution Control Board and Ministry of Environment and Forest for their nod. Villagers also raised apprehensions on jobs for locals.

In his reply, General Manager (PR & CSR), VAL Orissa Projects, Prashant Kumar Hota made a presentation on the state-of-the-art technology being used to prevent noise, water, air and hazardous waste pollution. Even fly-ash generated will be recycled.

Later talking to this paper, Hota informed that a mobile medical unit is catering to about 4500 patients. He said plans are on to construct a 50- bed hospital in one of the villages.

Vedanta Alumina’s order from Hindustan Dorr

Aluminium, Anil Agarwal, Bauxite, Jharsugurha- Brajarajnagar- Belpahar, Vedanta No Comments »

Equitybulls.com reports on this. Following are some excerpts.

Hindustan Dorr Oliver Ltd has announced that the Company has got an order from Vedanta Alumina Ltd valuing Rs 300 millions for Complete In-plant water circulation and distribution piping system and compressed air piping with accessories for their 5 million ton per annum Aluminium Smelter Plant at Jharsuguda, Orissa. Execution of the said project shall be completed by December, 2007.

The Company is already working alongwith its Chinese partner Chaileco in the above Jharsuguda refinery for a Fume Extraction Plant valuing Rs 2100 million.

Collection of old links on investments and investment plans

Anil Ambani group, Arcelor Mittal, Birlas, CIL, Central public sector, INVESTMENTS and INVESTMENT PLANS, IOC, Indian majors, Industrial houses, L & T, MCL, Mukesh Ambani group, NALCO, NTPC, POSCO, SAIL, Tatas, Vedanta No Comments »

Following is somewhat of a dated collection on investments and investment plans in Orissa.