Vedanta Resources PLC Partial power plant closure at Jharsuguda (7806Q)

TIDMVED

RNS Number : 7806Q

Vedanta Resources PLC

14 September 2017

Vedanta Resources plc

16 Berkeley Street

London W1J 8DZ

Tel: [phone]

Fax: [phone]

www.vedantaresources.com

14 September 2017

Vedanta Resources plc

Partial power plant closure at Jharsuguda

Vedanta Resources plc's subsidiary Vedanta Limited today made the below announcement.

Vedanta Limited

Partial power plant closure at Jharsuguda

Following a breach in the Ash Pond dyke wall at Jharsuguda at the end of August, the State Pollution Control Board, Odisha ('SPCB') on September 13, 2017 served a direction resulting in a temporary closure of three units of 135 MW each of the 1215 MW power plant, and two units of 600 MW each of the 2400 MW power plant. The remaining units of the 1215 MW plant have been allowed to operate until 12 October 2017, and the remaining units of the 2400MW plant have been allowed to operate until 20 September 2017.

The SPCB has asked the Company for compliance of certain conditions with a concrete plan within 5 days. The Company is complying with the order of SPCB along with a request for revoking the said closure orders.

This action may require a temporary power purchase of upto 200 MW, and hence a marginal impact on cost of production of aluminium. The Company expects to be able to sustain the smelter capacity without affecting its production volume.

The Company is working towards the lifting of the SPCB closure orders at the earliest, to ensure that aluminium production is not affected.

For further information, please contact:

 
 Communications                   Finsbury 
 Zarin Amrolia                    Daniela Fleischmann 
  Manager, Group Communications    Tel: [phone] 
  Tel: [phone] 
  [e-mail] 
 Investors 
 Ashwin Bajaj                     Tel: [phone] 
  Director - Investor Relations    Tel: [phone] 
                                   [e-mail] 
 
  Sunila Martis 
  Associate General Manager 
  - Investor Relations 
 
  Veena Sankaran 
  Manager - Investor Relations 
 

About Vedanta Resources

Vedanta Resources plc ("Vedanta") is a London listed diversified global natural resources company. The group produces aluminium, copper, zinc, lead, silver, iron ore, oil & gas and commercial energy. Vedanta has operations in India, Zambia, Namibia, South Africa, Ireland and Australia. With an empowered talent pool globally, Vedanta places strong emphasis on partnering with all its stakeholders based on the core values of trust, sustainability, growth, entrepreneurship, integrity, respect and care. To access the Vedanta Sustainable Development Report 2017, please visit http://www.vedantaresources.com/media/214366/vedanta_sd_report_2016-17.pdf. For more information on Vedanta Resources, please visit www.vedantaresources.com

Disclaimer

This press release contains "forward-looking statements" - that is, statements related to future, not past, events. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "should" or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, uncertainties arise from the behaviour of financial and metals markets including the London Metal Exchange, fluctuations in interest and/or exchange rates and metal prices; from future integration of acquired businesses; and from numerous other matters of national, regional and global scale, including those of a political, economic, business, competitive or regulatory nature. These uncertainties may cause our actual future results to be materially different that those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 14, 2017 07:24 ET (11:24 GMT)