Financial Express, April 5, 2007
BHUBANESWAR, APRIL 4: Vedanta Alumina Ltd a subsidiary of the Sterlite Industries Ltd signed a fresh memorandum of understanding with the Orissa government for setting up its alumina-aluminium complex in Kalahandi and Jharsuguda districts.
The company had been created as a subsidiary of the Sterlite Industries Ltd to execute the project which necessitated signing of the fresh MoU, company sources said.
The state government has signed the MoU with Sterlite Industries Ltd on June 7, 2003, for establishment of an one million tonne per annum alumina refinery with an investment of Rs 4,500 crore at Lanjigarh in Kalahandi district.
The project also included a 100 mw (25 x 4) captive power plant.
Work was presently on the company's 2.5 million tonne smelter and 675 mw (135 x 5) captive power plant at Bhurkhamunda in Jharsuguda district with a total investment of about Rs 8,400 crore.
Orissa's Industries Minister Biswabhushan Harichandan and senior officials were present at the signing of the fresh MoU.
State Industries Secretary Priyabrata Patnaik and Vedanta's project Director M Siddiqui signed the MoU.
The project would create direct employment opportunities for 1500 people and indirect employment for 7,500. The contribution towards tax revenue to the state would be about Rs 600 crore per annum, they said.
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