John Slaven, CEO of Vedanta Aluminum, attended the launch of Vedanta Metal Bazaar.
Vedanta's Aluminum division has introduced the company's first e-commerce venture 'Metal Bazaar' aimed at facilitating sales of a diverse product range within the metal segment. The platform offers over 750 product variations at launch and features AI-based price discovery to address value discrepancies caused by commodity price fluctuations.
The subsidiary is the country's largest aluminum producer, accounting for more than half of domestic aluminum production in fiscal 2023, totaling 2.29 million tons. We specialize in value-added aluminum products for various industries such as automotive, aviation, infrastructure and defense.
John Slaven, CEO of Vedanta Aluminum, said: “As one of the fastest growing economies in the world, aluminum is essential to India’s continued growth. This venture of Vedanta Aluminum will provide a world-class experience to a rapidly developing nation We democratize access to the highest quality aluminum by making it easily available to all sectors.”
Vedanta Group had last year announced a demerger plan to split the conglomerate into six separate listed companies. Slaven cited the company's significant value and diversified businesses as reasons for the delay, and said the split is expected to occur within the next nine to 12 months.
According to a company statement, the stock exchange has already issued an NOC to SEBI for the demerger. The company is currently negotiating with creditors regarding debt allocation. On obtaining his NOC from SEBI, the scheme will be forwarded to NCLT seeking orders to hold a meeting of members and creditors.
The creation of the independent vertical division was officially announced on September 29th.
Recognized as an essential metal for the global energy transition, aluminum also plays a key role in emerging sectors such as renewable energy, electric vehicles, green infrastructure, and high-tech manufacturing, earning it the nickname “metal of the future.” It is being
In the latest quarterly financial report, production was 599,000 tons, an increase of 6% year-on-year and 1% quarter-on-quarter, a record high, and production of 9 million tons was 1,772,000 tons, an increase of 3% year-on-year. reached an increase. Vedanta Aluminum saw its quarterly aluminum CoP decline 19% year over year and 4% sequentially, down $900 per tonne over the past six quarters.
India currently consumes 5 million tonnes of aluminum annually. The metal company's total aluminum production for this year is estimated at 2.4 million tons, and in the next few years it plans to increase production to 3 million tons.
