Odisha: Adani Ent Wins Bid For Odisha Bauxite Block | Mumbai News

Mumbai: Adani Group flagship Adani Enterprises (AEL) said on Friday it has been declared as a preferred bidder for a bauxite block in Odisha. This will help the conglomerate enter the aluminium sector in the country, where the leading players are Kumar Mangalam Birla-owned Hindalco, Anil Agarwal-controlled Vedanta, and state-owned enterprise Nalco.
Bauxite is a type of aluminium ore and is one of the main sources to create the metal.
The Ballada bauxite block in Odisha’s Koraput district has resources of more than 22 million tonnes.
AEL didn’t disclose the offer price based on which it was declared the preferred bidder for the mineral block by the Odisha government. It has routed the bauxite bid through its 100% subsidiary Mundra Aluminium.
In a regulatory filing, AEL said that the Odisha government has issued a letter of intent dated March 1 with respect to the Ballada bauxite block to its arm Mundra Aluminium.
Last August, group chairman Gautam Adani announced a proposed investment of Rs 57,575 crore to set up an alumina refinery and an iron ore project in Odisha. The group had then said it plans to set up the alumina refinery in the vicinity of bauxite reserves.

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