Comments
Former Steel Authority of India Chairman Sushil Kumar Roongta will tomorrow join Vedanta Aluminium, a group firm of London Stock Exchange-listed Vedanta Resources, as Managing Director.
“He will head the aluminium business of the group, including Balco, comprising 3 million tonnes of fully integrated aluminium manufacturing facilities, together with 6,000 MW of captive power plants,” Vedanta Resources said in a statement today.
Mr Roongta was at the helm of affairs of SAIL between August 2006 and May 2010, and under his leadership, the Maharatna firm embarked upon a major expansion plan to double the capacity to over 26 million tonnes per annum by 2013-14.
An engineering graduate from BITS Pilani and alumnus of the Indian Institute of Foreign Trade (IIFT), New Delhi, the former SAIL Chairman had worked with the Maharatna firm for about 38 years in different capacities and headed various divisions, including marketing, business development and plant operations.
He was also credited for safeguarding the company’s interest by retaining its rights over the Chiria mines — one of the largest iron ore reserves in the country — when the government showed indications of granting concessions to other players.
Commenting on his appointment, Mr Roongta said: “I am happy to be part of the growth story of Vedanta Group and looking forward to leading the aluminium business to be among the top integrated producers in the world.”
The Vedanta Group Chairman, Mr Anil Agarwal, added: “We are constantly looking for proven business leaders to manage our large businesses and create sustainable value for all stakeholders. We warmly welcome Mr S.K. Roongta to the Vedanta family.”
The aluminium business of Vedanta is spread over three locations — Korba in Madhya Pradesh and Jharsuguda and Lanjigarh in Orissa — and has a total capacity of 3 million tonnes.
It also has 6,000 MW of captive power generation capacity and had committed an investment worth $15 billion for its expansion activities.
The company’s integrated aluminium operations include bauxite mining, alumina refining, smelting and finished aluminium products, besides power generation and coal mining.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.