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Anil Agarwal
Finally, Odisha Govt Green Signals Vedanta Group’s Aluminium Project
Anil Agarwal-led Vedanta Group has got the green signal from the Odisha government for its big expansion plans. Agarwal has promised to invest Rs 1 lakh crore in the state to not only set up 3 MTPA aluminium smelter plant in Dhenkanal district but also set up Vedanta University over 6,000 acres at Puri. Though the Supreme Court had scrapped the Vedanta University project in Puri amidst protests two years ago terming it illegal but Odisha government has now welcomed Anil Agarwal’s Foundation to set up Vedanta University in Odisha without specifying Puri. Possibly, Vedanta Foundation has to find a new place for its University project outside Puri. People are not against Agarwal but he must follow the law of the land. According to Agarwal, the smelter plant, one of the largest aluminium in the world that will provide 30,000-40,000 jobs locally, will be set up in 42 months to produce 30 lakh tonnes annually. The work is expected to start over the next 3-4 months once the land deal is signed. Besides, Vedanta has also agreed to establish an ultra-modern ferro-alloys plant in Keonjhar district involving an outlay of Rs 2,000 crore.
Anil_mohan
Vedanta’s Anil Agarwal Camps In Odisha To Get Clearances For All His Projects
Looks like India’s aluminium king Anil Agarwal is now into full scale PR exercise with the Odisha government. Agarwal, chairman of Vedanta Group, is meeting Odisha chief minister CM Mohan Charan Majhi and his team because the group’s controversial Sijimali bauxite mine project is facing the scrutiny of both environmental and forest clearances amidst local community’s opposition. Agarwal’s objective of camping in Bhubaneswar is to ensure Odisha government’s absolute buy-in of Vedanta’s project requirement. The rumour is Vedanta intends to have a joint press conference post his meeting with CM and his senior team. Already Odisha Chief Secretary Manoj Ahuja is coordinating with all respective stakeholders to accelerate Vedanta’s $ 20 bn investment into aluminium project. Agarwal who is saying his big investment in Odisha is part of “nation building exercise” which will not only boost industrial growth but also create job opportunities in Odisha. It is learnt that Agarwal is dangling the carrot to Odisha government saying once the bauxite plant gets the government’s green signal, he will also set up downstream aluminium park in Odisha. Sources say Odisha will play along with Agarwal as Vedanta Group is committed to big investment in Odisha; Rs 1.27 lakh crore to set up a 3 MTPA aluminium smelter in the Dhenkanal district, Rs 1 lakh crore to develop 6 MTPA aluminium refinery in Rayagada as well.
Nalco
Post Rio Tinto Pull Out, NALCO In Talks With Russian, Chinese Companies
The task ahead for the state-owned aluminium behemoth, the National Aluminium Company (NALCO) is cut out, after it parted ways with Rio Tinto as it refused to share proprietary smelter technology. NALCO is now looking out for a new partner. Sources say finding a new partner will delay its 0.5 mtpa greenfield aluminium smelter plant by 6-8 months. The buzz is that at least two Chinese companies (GAMI and CHINALCO), a Russian major RUSAL and Dubai Aluminium Company are in the fray to bag the Rs 17,000 crore order to provide smelter technology. Interestingly, CHINALCO is also the single largest shareholder in Rio Tinto, a British-Australian MNC. All the four companies are keen to partner NALCO as it has chalked up ambitious expansion plans. Sources say, NALCO has plenty of options to pick up a global partner. For now, the speculation is NALCO aims to commission its aluminium smelter and captive power plant by 2030. The total cost of NALCO’s expansion plan is pegged at Rs 30,000 crore which includes new refineries, smelter, mine operations and captive power plants of 1080 MW. NALCO will use a mix of debt and internal accruals to fund the expansion besides, also exploring possibilities of roping in Coal India and NTPC for power plant projects.

TRENDS & VIEWS

Editor’s Note: Short Post Is Here To Stay…

Time, they say, flies—and how true that is. Here we are celebrating our 5th Anniversary. Five years ago, when Covid-19 was wreaking havoc across the globe, I took a leap of faith and launched Short Post, India’s first website for Authentic Gossip. That was on January 31, 2021. I was convinced there was a clear gap in the market for gossip that was credible, sharp, and impactful—especially if told in just 250 words.

In this, I was fortunate. Scores of senior editors across diverse verticals bought into the idea and, in the process, gave wings to my dream. Quite honestly, Short Post could not have crossed these milestones without the unflinching support of its contributing editors. Like all start-ups, we have seen our share of ups and downs, but these editors have stood by us like a rock. I take this opportunity to doff my hat to them.

Thanks to their commitment, we have published close to 5,000 stories spanning politics, business, entertainment, and sports. I say this with pride: we made our mark as people who matter read us. “Small packs, big impact” truly captures the essence of Short Post.

We all know that Covid-19 has reset businesses worldwide, and the media sector is no exception. In the post-Covid era, investors have become more cautious and selective—and advertisers too. To compound matters, the entry of AI has disrupted the media landscape in equal measure. So far, we have managed to hold our ground, hopeful that some angel investors will take a shine to us.

What gives me confidence is this: AI cannot smell news—especially the gossipy kind. In other words, AI cannot churn out Short Post-type stories, no matter the prompt. That puts us in a safe zone. As someone rightly said, “AI is a co-pilot, not a pilot.”