Latest news with #VedantaMetalBazaar
Time of India
2 days ago
- Business
- Time of India
Vedanta Aluminium eyes global leadership in billet market
Vedanta Aluminium has set out on a bold path to establish itself as India's go-to source for billets, with a firm eye towards becoming the industry leader globally. The company is strategically expanding its production capacity to meet growing domestic and international. 'With a casting capacity of 580 kilotonnes per annum, we are currently India's largest producer and exporter of high-quality aluminium billets . Our market share in India is 47 per cent, with a 40 per cent share in the primary billets segment. As we expand our capacity to 670 kilotonnes per annum and aim to scale billet production to 1.2 million tonnes per annum in the long term, we aspire to become the world's largest billet producer," said Rajiv Kumar, CEO of Vedanta Aluminium, while discussing the company's strategic roadmap. The company is also actively expanding the value-added product (VAP) portfolio, targeting a VAP share of 90 per cent. "Billets are projected to account for half of the additional VAP output, with their share in total aluminium production increasing from 20 per cent to 35 per cent," noted Kumar. Driving product innovation with sustainability In recent years, Vedanta Aluminium has been pushing the boundaries of performance innovation while deeply integrating sustainability into its operations. 'We are investing in advanced manufacturing capabilities, proprietary alloy development, and process innovation to serve high-growth sectors such as aerospace, automotive, construction, renewable energy, and electric vehicles (EVs),' said Kumar. This effort includes scaling up production of billets, primary foundry alloys, rolled products, and wire rods, all supported by automation and cutting-edge casting technologies. A key initiative to enhance customer experience is the company's e-commerce platform, Vedanta Metal Bazaar, which is designed to streamline sourcing, logistics, and technical support. On the sustainability front, Vedanta's flagship product lines, Restora and Restora Ultra, are manufactured using renewable energy and recycled materials, resulting in a significantly lower carbon footprint than the global industry average. 'Restora and Restora Ultra are central to our commitment to enabling a low-carbon industrial future,' said Kumar. 'Restora Ultra, in particular, is produced from recovered aluminium dross, offering an even lower carbon footprint and embodying circular economy principles.' These products, available in multiple formats, help downstream partners in heavy manufacturing, automotive, infrastructure, and renewable energy sectors to reduce Scope 3 emissions without compromising on quality. The Vedanta Group company's waste-to-wealth programme has achieved 113 per cent fly ash utilisation, with by-products like red mud being repurposed for agricultural use. The company is also recovering high-purity graphite from waste streams for use in lithium-ion batteries. Meeting the needs of high-growth sectors Demand from EVs, renewable energy, and infrastructure is surging, and Vedanta Aluminium is aligning its production and innovation capabilities accordingly. 'We are ramping up production of products specifically designed for applications in solar panel frames, EV components, aerospace, defence, and modern infrastructure,' said Kumar. 'Through our Vedanta Spark initiative, we have partnered with more than 70 startups, deploying over 100 projects that integrate AI, robotics, IoT, and smart safety solutions to enhance manufacturing efficiency and sustainability, he added. Vedanta also produces specialised alloys, such as crash-resistant alloys for EVs, high-strength alloys for infrastructure, and lead-free, high-machinable alloys for sustainable applications. Championing 'Make in India' and 'Atmanirbhar Bharat' The company's Aluminium Vision document outlines its ambition to make India a global aluminium hub by 2047. The company is working on developing new product lines to cut down on imports. 'We are strongly aligned with India's 'Make in India' and 'Atmanirbhar Bharat' missions. With over 3,000 global applications of aluminium, India has tapped into only around 300. Vedanta is bridging this gap by developing new product lines domestically and fostering innovation to reduce import dependency," noted Kumar. The company already has a presence in 60 countries, and it aims to expand its presence further as global aluminium demand is projected to rise by 40 per cent by 2030.
Time of India
10-06-2025
- Business
- Time of India
Vedanta Aluminium signs financing MoU with Central Bank of India for MSME customers
Vedanta Aluminium has signed a Memorandum of Understanding (MoU) with the Central Bank of India to provide collateral-free financing to its downstream customers, primarily Micro, Small, and Medium Enterprises (MSMEs), through its unit Bharat Aluminium Company (BALCO) . The partnership will offer working capital loans ranging from ₹10 lakh to ₹10 crore, with minimal documentation requirements and industry-competitive interest rates. The loan programme will be delivered through Vedanta Metal Bazaar, an online platform for aluminium products, allowing customers to access financing options along with real-time invoice tracking and lien marking. Digital platform integration and loan terms Vedanta Metal Bazaar will host the financing facility digitally. Customers will receive standard repayment terms of 90 days with a 15-day grace period. The programme includes API-based services for faster loan disbursals and process transparency. Currently, more than 100 customers use financing services through the platform with four existing partner banks. The addition of the Central Bank of India, with its extensive national network, is expected to widen the reach of this initiative. Rajiv Kumar , CEO, Vedanta Aluminium, said, 'Our partnership with Central Bank of India marks a pivotal step in strengthening the aluminium value chain by making working capital more accessible and affordable for MSMEs who form the backbone of India's manufacturing and industrial ecosystem. By enabling greater financial liquidity, we are not only empowering our customers to scale efficiently but also accelerating the development of a robust downstream sector. 'With more than 60% of our downstream clientele comprising MSMEs, this initiative will unlock new avenues for business expansion and competitiveness. It aligns with our vision of building a self-reliant, competitive, and future-ready aluminium industry that contributes meaningfully to India's economic growth, employment generation, and global manufacturing leadership.' Vedanta Metal Bazaar currently offers over 750 product variants including ingots, billets, wire rods, primary foundry alloy, rolled products, and Restora (a low-carbon aluminium variant). The platform also features AI-based price discovery and is accessible via web and mobile applications. Vedanta Aluminium, a division of Vedanta Limited, produced 2.42 million tonnes of aluminium in FY25, accounting for more than half of India's total output.
