Fate of Vedanta’s Lanjigarh alumina refinery looks up with Odisha considering according the mining leases (ML) of Sijimali and Kutrumali bauxite desposits on the border of Kalahandi-Rayagada districts in favour of L&T. Since L&T and Vedanta have formed a joint venture for the mining operations with Vedanta having 24% stakes, the opening of the mines would solve the long-standing raw material problem of the Lanjigarh refinery.
Meanwhile, with the MMDR Amendment Act, 2015, L & T has renewed its efforts for the mines. L&T executive chairman AM Naik on Monday met Odisha CM Naveen Patnaik and requested the grant of ML of the two bauxite mines in its favour stating that the company has the PL over the two mines.
Naik also met state chief secretary GC Pati and steel & mines secretary RK Sharma and discussed the mining leases.
Following the withdrawal of Dubai Aluminium (Dubal) from the Raykal SPV (special purpose vehicle), formed in 2005 to set up a R30,000-crore aluminium complex with a 3 million tonne refinery at Rayagada and a 1.5 million tonne smelter besides a captive power plant, L&T in 2012 formed a joint venture with Vedanta for the mining project.
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