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Vedanta is in the process of acquiring land for its 3 million tonnes per annum (MTPA) aluminium smelter in Dhenkanal, Odisha, a top company official said on Wednesday. "We are moving towards setting up a new mega aluminium plant at Dhenkanal, Odisha, (with a capacity of) three million tonnes," Rajiv Kumar, Chief Executive Officer for the Aluminium business at Vedanta, said. Currently, the company's total capacity stands at 3 million tonnes. "We want to go to six million tonnes, for which we are actively involved in land acquisition, and hopefully things are progressing very well," Kumar said. He was speaking to reporters on the sidelines of ALUMEX India 2025, organised by Aluminium Extrusion Manufacturers Association of India (ALEMAI) in the national capital during September 10-13. This green aluminium smelter, he said, has the potential to create over two lakh jobs. On the investment to be made in the said plant, he said that "Aluminium is very heavy on investment and is a ...
The Supreme Court on Wednesday said the compensation for land acquisition cannot be assessed in a mechanical manner but must be guided by considerations of equality, equity and justice. A bench of Justices Surya Kant and Ujjal Bhuyan said a fundamental principle in land acquisition jurisprudence was that lands with similar locational and developmental potential must be compensated equitably unless clear, objective distinctions justify otherwise. The bench said it must caution against an "excessively positivist" approach in matters of land acquisition. "It is well understood that the very exercise of assessing compensation is antithetical to rigid formalism. Compensation cannot be assessed in a mechanical or formulaic manner but must be guided by considerations of equality, equity, and justice," it said. The apex court's verdict came on a batch of cross-appeals filed by the Haryana State Industrial and Infrastructure Development Corporation and several landowners challenging the ...