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Hindalco Shut Its Jharkhand Facility Down For The Time Being

Equity_Pandit

Hindalco Industries Ltd.said it will shut its Jharkhand facility for sometime as one of the worker went missing and four people sustained injuries when a red mud storage wall at the plant collapsed. To ease the situation operation has been suspended to assess the happening and effort are on to clear the spillage.
The company’s clarification comes after The Telegraph newspaper report stated that more than 20 workers were feared buried after a spillover of liquid industrial waste from its aluminium plant. The report also raised concerns over the liquid waste running into the Subarnarekha river that was less than 100 meters from the site.
Muri Plant produces 3.8 lakh tonnes of alumina and contributes 13 percent to the company’s overall production. The alumina maker, however, denied any material impact on the surrounding environment as well as on the company’s performance.
Read EquityPandit’s Technical Analysis of Nifty Metal

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