Vedanta Aluminium launches alloy for automobilesPTI | Bhubaneswar | Updated: 13-09-2019 20:54 IST | Created: 13-09-2019 20:54 IST
Vedanta Aluminium on Friday launched primary foundry alloy (PFA) for the automotive industry to help reduce the country's import bill. The company has become the "first primary aluminium producer" to supply the raw material for alloy wheels in the country with the unveiling of the product, it said in a statement.
"Until now, the auto and ancillary industries were completely dependent on import for the product," the aluminium maker said. Vedanta Aluminium, a part of Vedanta Ltd, said its investments in creating a PFA capacity of 240,000 tonnes is in align with the government's 'Make in India' initiative to cater to the domestic requirement of automotive companies and original equipment manufacturers.
Localisation of the domestic raw material supply chain will help the Indian automotive industry, a top company offcial said. "As a long-term strategy, we are adopting various measures to serve the growing demand of Indian customers. We believe the new product will not only support the auto sector but also help reduce India's import bill," Vedanta Ltd CEO (Aluminium and Power) Ajay Kapur said.
PFA is predominantly an alloy of aluminium, silicon and magnesium and this is used to manufacture important auto parts, a company official said. Currently, the share of aluminium alloy wheels in India is significantly lower compared to the rest of the World, the company said.
With increased focus on lightweight vehicles, it is expected that over the next few years there will be a surge in the uptake of alloy wheels, he said..