The Vedanta Group's aluminium arm dispatched its first batch of low-carbon aluminium to Global Aluminium, marking the next stage of its venture to meet fast-growing demand for greener products amid climate goals.
Vedanta Aluminium will supply 300 metric tonnes of Restora Billets to Global Aluminium, making it the first domestic customer for the product, the mining conglomerate said in a statement on November 15.
"The supply agreement will see Global Aluminium deploying Restora Billets supplied by Vedanta Aluminium in various extrusion profiles, undergoing in-house value addition including anodising processes, aluminium powder coating processes, and precision machining facilities," the company added.
Vedanta launched its green aluminium brand, Restora, last year, making it India's first major non-ferrous metal producer to manufacture low-carbon products. Restora has a greenhouse gas emission intensity of less than 4 tonnes of CO2 equivalent per tonne of aluminium manufactured – the global threshold for aluminium to be considered low carbon.
Extrusion is a process by which aluminium billets are forced through a series of dies to create shapes. According to the company, the end products, after extrusion, cater to customised applications across industries including automotive, building, construction and architectural, aeronautics, and renewables.
"Restora range of products will be a gamechanger in enabling players in the domestic extrusion industry to reduce their carbon footprint and establish a greener value chain," said Anil Agrawal, managing director of Global Aluminium, based in Hyderabad.
Last month, the Vedanta Group flagged a jump in aluminium production in the quarter ended September. During the quarter, alumina production at Lanjigarh refinery increased by 2 percent YoY and 17 percent QoQ. Cast metal aluminium production increased by 2 percent YoY and 3 percent QoQ to 594 kilotonnes, the company said in a statement.
Vedanta posted a net loss of Rs 915 crore in the July-September quarter. The company clocked a net profit of Rs 2,690 crore in the year-ago period. Revenue rose 6.4 percent to Rs 38,546 crore.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!