Hindalco Bids For Andhra Bauxite Mines
Hindalco, the Aditya Birla group aluminium major, and the Thapar controlled AP Rayons in collaboration with French global giant Al Pechiney, are the prominent bidders for a global tender floated by the Andhra Pradesh government for bauxite mining ventures in the state.
The bids for the mining ventures closed on July 31. A total of 10 companies have bid.
Hindalco is learnt to have bid alone, while A P Rayon has tied up with Al Pechiney, the third largest aluminium company in the world.
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The other bidders are believed to be domestic players.
In a bid to exploit its virgin bauxite reserves, the Andhra Pradesh Mineral Development Corporation had invited bids from companies.
State government sources indicate it will need close to $1 billion to exploit the bauxite reserves in the state.
Andhra Pradesh has the country's second largest bauxite deposits, estimated at 657.98 million tonnes, second only to Orissa with 1,606.98 million tonnes.
The Andhra Pradesh deposits constitute 21.7 per cent of the country's total deposits.