MALCO

The Madras Aluminium Co Ltd had informed the Exchange regarding company's smelter operations. The Company has now informed the Exchange that: "In view of continuous fall in LME Aluminium prices, the Company has reviewed the business outlook for Aluminium business and has decided to temporarily suspend the entire Aluminium production with immediate effect. The Alumina refinery will operate only to cater to the other industrial requirements. However, the Company's power plant will continue to operate and sell power to third parties".

The Madras Aluminium Co Ltd has informed the Exchange that: "(1) The Company has temporarily reduced its aluminium production by sixty percent on account of falling LME aluminium prices and higher input costs/cost of production. However, the aluminium refinery continues to operate at its optimal capacity. (2) The Company has decided to sell surplus power generated from its captive power plant to third parties within Tamil Nadu. The sale of power has been permitted by the Tamil Nadu Electricity Board under Tamil Nadu Intra-State Open Access Regulations, 2005. (3) The Company has transferred the

The Madras Aluminium Co Ltd has informed the Exchange that "The Madras Aluminium Company Limited - MALCO (the current promoter of India Foils Limited) has decided to joins hands with ESS DEE Aluminium Limited to work towards the revival of India Foils Limited through a Rehabilitation Scheme in consultation with the Operating Agency and subject to Board for Industrial & Financial Reconstruction (BIFR) and other regulatory approvals as may be necessary".