Economics
Vedanta Awaits Bauxite to Revive $9 Billion Aluminum Project
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Vedanta Resources Plc, controlled by billionaire Anil Agarwal, is counting on a court verdict next month to secure raw material and revive a faltering $9 billion aluminum project in India.
The Supreme Court on Dec. 3 may grant unit Vedanta Aluminium Ltd. access to a bauxite mine in Odisha, helping it to cut production costs by almost 24 percent, Chief Operating Officer Mukesh Kumar said today in a phone interview. The project in the eastern state includes a refinery, a smelter and a power plant.