Ashapura Minechem Ltd has formalized an agreement to set up a State-of-the art Alumina Complex at Ratnagiri, in the coastal belt of Maharashtra. The project will be spread across 1500 acres of land at an investment of Rs. 4,200 crore and will create direct and indirect employment for over 3000 people. The Memorandum of Undertaking (MoU) to this effect was signed by the company and Govt of Maharashtra.
The Alumina Complex project being set up by Ashapura Minechem has been granted 'Mega Project' status by the Government of Maharashtra. Ashapura's proposed project includes a 0.5 million tons Alumina Refinery, 0.15 million tons Aluminium Smelter and a 330 MW Captive Power Plant at Rajapur, Ratnagiri District. The proposed investment is to the tune of Rs, 4,200 Crores, including an investment of Rs. 1,320 Crores for a 330 MW Captive Power Plant.
The project is estimated to employ more than 3000 people directly & indirectly. Mining is the second largest occupation in India after Agriculture and currently, Ashapura Minechem employs over 25,000 people in the mining sector. Maharashtra has over 200 billion tonnes of bauxite reserves which offers a conducive environment to set up a complete integrated state- of- the -art Alumina Complex, This project, a first of its kind in India, is the largest project on the west coast of Maharashtra. In terms of potential markets Ashapura plans to export alumina to the Middle East, which has an annual requirement of over 2.5 million tons.