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The one number that should be the last thing on FM's mind

Budget 2020 is not being framed in a business-as-usual scenario but at a time of sharply lower growth.


Jan 23, 2020, 03.46 PM IST



Sterlite Industries output up in Q2

The production of aluminium at Balco dipped by as much as 8 per cent during the quarter, the company said in a statement.

Orissa acts tough on erring sponge iron units, asks Bhusans to shut down 10 units

Orissa State Pollution Control Board [OSPCB] has come hard on erring industrial units not complying with various environment related acts and rules.

Vedanta Aluminium to raise Rs 16000 crore for Orissa project

Anil Agarwal's Vedanta Aluminium is in the process of raising Rs 16000 crore for its aluminium project in Orissa, sources with direct knowledge said.

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  • Nalco is awaiting certain regulatory clearances to launch its new aluminium project in Orissa, which will entail an estimated investment of over Rs 10,000 cr.

    Vedanta Resources will cut its spending programme by as much as $2 billion over the next two years after failing to get clearance to mine bauxite at Niyamgiri in Orissa.

    Mining major Vedanta Resources today said its investment in India would come down by up to $ 2 billion (nearly Rs 9,000 crore) in the next two years as expansion plans are put on hold after the group has been denied permission to mine bauxite in Orissa's Niyamgiri hills.

    Vedanta Group, which was denied mining rights in Orissa's Niyamgiri hills, on Thursday said it will not pull out of the state.

    Orissa Chief Minister Naveen Patnaik on Saturday extended support to the Vedanta group for all its projects.

    Public sector aluminium major Nalco today said it has laid out a Rs 50,000-crore expansion plan spread over the next 8-9 years.

    MUMBAI: Vedanta Resources - the mining major owned by London-based tycoon Anil Agarwal - is likely to demerge a large aluminium project in Orissa into a separate entity to help the conglomerate get a better valuation for the aluminium business.

    London based Vedanta Aluminium Limited (VAL), which is setting of an alumina refinery and smelter projects in Orissa, on Thursday reiterated its commitment to set up an aluminium park in Orissa.

    State-run aluminium producer Nalco will spend about Rs 22,000 crore in setting up two mega projects, one each in Andhra Pradesh and Orissa, the Lok Sabha was informed today.

    Allaying apprehension about its disinvestment, aluminium giant NALCO is all set to invest over Rs 25,000 crore to launch new projects and undertake major expansion despite decline in profit due to global recession.

    The blue chip Navaratna public sector aluminium giant has achieved 100% capacity utilisation in Alumina Refinery and Smelter and also has met the sales targets in the last fiscal despite the adverse market conditions.

    Armed with 'Stage I' clearance, mining major Vedanta announced its plan to start bauxite mining project in Orissa's Niyamgiri Hills within a month and to invest Rs 25,000 crore more for its aluminium units in the state in next two years.

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