Madras Aluminium cuts output by 60 pct on low prices
MUMBAI, Nov 20 (Reuters) - Madras Aluminium Company Ltd (MSAL.BO: Quote, Profile, Research) said on Thursday it has temporarily cut aluminium production by 60 percent on lower global aluminium prices and higher input costs.
Its alumina refinery, however, continues to operate at optimum capacity, the company, which transferred management control of India Foils Ltd, in which it had a controlling stake, to Ess Dee Aluminium Ltd (ESDA.BO: Quote, Profile, Research) said in a statement.
Madras Aluminium will also sell surplus power generated from its captive power plant in the southern state of Tamil Nadu to third parties in the state, it said.
(Reporting by Swati Pandey; editing by Sunil Nair)
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