Mr SK Roongta appointed as MD of Vedanta Aluminium
Monday, August 22, 2011
Posted by: BITSAA Newsletter
Vedanta Resources plc, a London Stock Exchange listed, FTSE 100, metals & mining major announced the appointment of Mr SK Roongta as Managing Director of Vedanta Aluminium Limited effective from 2nd June 2011. Mr. Roongta will head the aluminium business of the Group, including BALCO, comprising of 3 million tonnes of fully integrated aluminium manufacturing facilities together with 6000 MW of captive Power Plants.
Prior to this appointment, Mr Roongta was the chairman of SAIL from August 2006 to May 2010, during this period he implemented several path breaking initiatives which resulted in major growth in top line and profitability. He also handled several key responsibilities including marketing and business development, plant operations, sourcing and commercial.
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.
Mr Roongta also served on boards of various private and public sector companies. The Indian government recognizing his immense contribution to the Indian industry, wanted to utilize his in depth knowledge in BIFR board too. Mr. Roongta is an alumnus of BITS Pilani and Indian Institute of Foreign Trade, New Delhi.
Mr Anil Agarwal chairman of Vedanta Group said “Vedanta is constantly looking for proven business leaders to manage our large businesses and create sustainable value for all stakeholders. We warmly welcome Mr S K Roongta to the Vedanta family”.
Commenting on his appointment, Mr 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.”
About Vedanta Resources plc:
Vedanta’s integrated aluminium capacity of 3 million tonnes is spread over 3 key locations at Jharsuguda, Korba & Lanjigarh with 6000 MW of captive power plants, involving an investment of USD 15 billion, out of which approximately 75% has already been spent. Integrated aluminium operations include bauxite mining, alumina refining, smelting and finished aluminium products, besides power generation and coal mining.
Vedanta is probably the fastest growing company in the metals and mining sector globally with USD 70 billion. It has invested about USD 20 billion in India. It raised USD 15.7 billion overseas to invest in India with the record of USD 1.65 billion bonds becoming the largest ever by an Indian company overseas.