AP is all set to get the world’s biggest aluminum plant. The green aluminum plant will be operated by Rio Tinto and Greenko at an estimated investment of Rs 60,000 crore.
The proposed project is looking to establish a 1 million tonne per annum aluminium smelter and a 2 mtpa aluminium production facility, both powered by renewable energy sources.
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The construction of the facility will cost $ 7000 crore or Rs 60,000 crore. Both companies have reached an agreement to come up with a feasibility report for setting up the plant.
As a part of the project, an aluminium smelter of 10 lakh tonne capacity will be built. The feasibility study will also check if the capacity can go up to 20 lakh tonne.
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The promoters have decided to power the project with renewable energy sources. In AP, Greenko has extensive solar projects. It is estimated that the project will require 2 giga watts of power.
When completed, it will become one of the biggest green aluminium projects. AMZ Metals & Materials Company is also investing in the project. It is being said that Rio Tinto and AMZ will have 50% share each in the proposed project.
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Meanwhile, the companies will hold talks with the AP government with regard to land allocation. Land will be on the coastal belt, nearer to the ports.
In India, Birla Group’s Hindalco and Mittal Group’s Vedanta are in aluminium business. Incidentally, Vedanta is leading the market with an annual output of 24 lakh tonnes.
However, the proposed aluminium plant which will run with green energy is likely to create a new record. Apart from Indian market, the plant will focus on exports to Europe.
Bauxite from Rio Tinto’s Australian mines and aluminium from Odisha will be procured for the project. As a refinery will also come up with the smelter, it is bound to create jobs for thousands of people.
The first phase of the greenfield project will be complete by 2030.
