The Odisha High Court has in a ruling, allowed Vedanta to bid for NALCO’s tender for the sale of surplus alumina.
Vedanta approached the court after it was denied a chance to participate in the tender. NALCO had mentioned that it is not allowed to sell alumina overseas but Vedanta stated that its smelter at Jharsuguda makes it eligible to participate in the tender.
The court ruling in this regard mentioned, “If the contention which has been raised by the petitioners is not accepted, they have to import the raw material…, and in that process spend huge amount of ship fare which will add costs to the company in question…. Whereas if it is allowed to purchase from Nalco, the Indian raw material can be used within India and will serve the purpose of the new policy of the central government, i.e. ‘Make in India’”.
Updated On 03-Apr-2019
Other Tools :
[ Today's Prices ]
[ Upcoming Tradeshows ] [ Market Research ] [ Demand and Supply ] [ About Metals ]