"We would conduct feasibility survey for setting up greenfield aluminium plant in Chhattisgarh with an estimated investment of Rs 10,000 crore (Rs 100 billion)," Anil Agrawal, chairman, Vedanta said recently during his visit to the state.
Vedanta, earlier known as Sterlite, purchased 51 per cent stake in Korba-based Bharat Aluminium Company for about Rs 551 crore and took over the management right in the first divestment of public sector undertaking during the National Democratic Alliance government.
After taking over Balco, Vedanta went in for a major expansion project with an estimated cost of Rs 500 crore to increase production to 3.5 lakh tonne per annum from the existing 1 lakh tonne per annum.
The company officials said that once the site of the proposed 1200 mw power plant-for which the company inked a tripartite MoU with the state government and Chhattisgarh State Electricity Board was finalised, they would start work for selecting the site and making feasibility report for the new aluminium plant.
"We wished to make Balco a synonym to Chhattisgarh like Telco-Tisco is for Jharkhand," Agrawal said. Balco accounts for about 15 per cent of the Vedanta group.
Agrawal, however, announced all possible assistance to Chhattisgarh, besides funds to set up a cancer hospital in the state. It has given money for making Mainpat a world-class tourism spot. In Mainpat-endowed with nature's beauty in Sarguja district - the company owns bauxite mines.
The company also declared an investment of Rs 5 crore (Rs 50 million) for development of Mainpat as a tourism spot.
The company chairman announced equal share from his company for the proposed cancer hospital, to be brought up by the Chhattisgarh government. "We will also provide assistance for purchasing all high-class equipment for the hospital," he said.
