LME Aluminum to Move at Highs (2017-8-9)

[SMM Aluminum Express News] Vedanta has asked the Odisha government to accelerate approvals and implementation for an additional ₹1 lakh crore, around US$11 billion, aluminum investment programme in the state. Vedanta Chairman Anil Agarwal met Odisha Chief Minister Mohan Charan Majhi in Bhubaneswar on September 26, with discussions covering a proposed 6 million t/y alumina refinery in Rayagada and 3 million t/y aluminum smelter in Dhenkanal. The Odisha government said the projects could generate more than 200,000 direct and indirect jobs

[SMM Aluminum Express News] Adani Enterprises has taken a 50% stake in Abu Dhabi-based Monvarex Aluminium Holding RSC Ltd. through its wholly owned subsidiary Adani Global Limited, strengthening the group’s vehicle for developing alumina, aluminum smelting and coal-to-gas businesses in India. The transaction was completed for just US$25,000, reflecting that Monvarex Aluminium Holding is a newly established entity with US$50,000 paid-up capital and no commercial operations or turnover yet. The acquisition was disclosed on September 26, 2026. The filing explicitly states that the purpose of the acquisition is to undertake “manufacturing/extracting alumina/aluminum smelter and Coal-to-Gas business in India.” Monvarex Aluminium Holding was incorporated in Abu Dhabi on May 15, 2025 and is registered with the Abu Dhabi Global Market. No regulatory approval was required for the stake acquisition, and the transaction has already been completed.