Vedanta to shut down Odisha Alumina Refinery.

Anil Agarwal's Vedanta Resources, battling a fall in global aluminium prices, has asked employees at its alumina refinery in Odisha to brace for an imminent shut down.

'We have taken a decision to shut the plant - when (it will be done) remains to be decided,' Karun Kant Dave, chief operating officer at Lanjingarh Alumina Refinery in Kalahandi district, told ET.

Dave recently addressed about 1,000 employees of the 1-mt refinery, telling them to prepare for the worst.

He told ET that the plant was installed on the understanding that the state government would supply bauxite, but it was running on bauxite sourced from elsewhere. 'In the recent's context of the commodity meltdown, it impossible to continue,' Dave said.

In a release, the company said the plant was operating at a daily loss of Rs. 3 crore already.


ET