New Delhi: Former Steel Authority of India (SAIL) chairman Sushil Kumar Roongta will on Thursday join Vedanta Aluminium, a group firm of London Stock Exchange-listed Vedanta Resources, as managing director.
“He will head the aluminium business of the group, including BALCO, comprising 3 million tonnes of fully integrated aluminium manufacturing facilities, together with 6,000 MW of captive power plants,” Vedanta Resources on Wednesday said in a statement.
Roongta was at the helm of affairs of SAIL between August, 2006, and May, 2010, and under his leadership, the Maharatna firm embarked upon a major expansion plan to double capacity to over 26 million tonnes per annum by 2013-14.
An engineering graduate from BITS Pilani and alumnus of the Indian Institute of Foreign Trade (IIFT), New Delhi, the former SAIL chairman had worked with the Maharatna firm for about 38 years in different capacities and headed various divisions, including marketing, business development and plant operations.
He was also credited for safeguarding the company’s interest by retaining its rights over the Chiria mines -- one of the largest iron ore reserves in the country -- when the government showed indications of granting concessions to other players.
Commenting on his appointment, Roongta said, “I am happy to be part of the growth story of Vedanta Group and looking forward to leading the aluminium business to be amongst the top integrated producers in the world.”
Vedanta Group chairman Anil Agarwal added, “We are constantly looking for proven business leaders to manage our large businesses and create sustainable value for all stakeholders. We warmly welcome S K Roongta to the Vedanta family.”
The aluminium business of Vedanta is spread over three locations -- Korba in Madhya Pradesh and Jharsuguda and Lanjigarh in Orissa -- and has a total capacity of 3 million tonnes.
It also has 6,000 MW of captive power generation capacity and had committed an investment worth $15 billion for its expansion activities.
The company’s integrated aluminium operations include bauxite mining, alumina refining, smelting and finished aluminium products, besides power generation and coal mining.