Financial Daily from THE HINDU group of publications
Tuesday, Oct 12, 2004
Financial Daily from THE HINDU group of publications Tuesday, Oct 12, 2004 |
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Corporate
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Announcements Vedanta's Tuticorin smelter ready for commissioning Our Bureau
Mumbai , Oct. 11 THE 3-lakh tonne copper smelter being set up by Vedanta Resources Plc at Tuticorin is mechanically complete and ready for commissioning. However, with the necessary permissions taking longer than the company expected, the new smelter will only see limited production in the current year. The smelter is part of the company's $2-billion (Rs 9,000 crore) expansion programme that will be implemented during the next three years. A company press release said the expansion of its Korma aluminium smelter at Balco to 3.5 lakh tonnes per annum and the alumina project in Orissa, were progressing as per schedule. The company has reported a 10 per cent increase in production of zinc-mined metal content in the first half of the current fiscal to touch 1.67 lakh tonnes, as against 1.52 million tonnes (mt) during the corresponding period of last fiscal. There was, however, a fall of 17 per cent in production of copper cathode, which was 77,000 tonnes during the last six months, as against 93 mtin the corresponding period of last fiscal. While aluminium production was at 66,000 tonnes, that of alumina was 1.30 lakh tonnes, as against 65,000 tonnes and 1.34 lakh tonnes respectively.
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