RIL weighs aluminium entry amid Adani’s big bet
Mukesh Ambani's Reliance Industries Ltd (RIL) is considering entering the aluminium industry, potentially linking its planned coal gasification operations with metals manufacturing, according to reports from Mint and UNI. The company has purchased the tender documents for Odisha's Karlapat bauxite block, which contains over 200 million tonnes of bauxite.
RIL has also received purchase bids from Adani Group and Vedanta Aluminium's BALCO, with BALCO emerging as the preferred bidder after offering a premium of 175%. The move aims to utilize fuel generated through coal gasification for energy-intensive aluminium production. This potential move comes shortly after RIL announced a Rs 2.73 lakh crore investment for India's first integrated underground coal gasification complex in Andhra Pradesh.
Meanwhile, Adani Group is set to invest $11.5 billion in a 2-million-tonne-per-annum aluminium project in Odisha. Established producers like Vedanta Aluminium, Hindalco Industries, and NALCO already have significant capacity in the sector.
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