Billionaire Agarwal to Shut `Unviable' Unit Amid Aluminum Slump

Updated on
  • Vedanta's Balco seeks government approval to close unit
  • Closure of rolling unit to cut 1,000 direct, indirect jobs

Vedanta Ltd., India’s biggest aluminum producer backed by billionaire Anil Agarwal, plans to close a unit as a slump in metal prices and rising energy costs made operations unviable.

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