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Vedanta Aluminium Announces COVID Kavach Term Insurance for Business Partner Employees

Posted On: 2021-05-17 12:47:45 (Time Zone: UTC)

Vedanta Aluminium & Power Business, India's largest producer of aluminium and value-added aluminium products, has on the occasion of International Day of Families extended the COVID Kavach Term Insurance Policy for employees of business partners across its plants in Jharsuguda and Lanjigarh in Odisha, and BALCO in Korba, Chhattisgarh. Mr. Ajay Kapur, CEO - Aluminium & Power and MD - Commercial, Vedanta Ltd., announced this to all staff on the the occasion of International Day of Families through a video message. Last year, the company had enhanced its term life insurance for all employees, which also covers any unfortunate circumstance due to COVID.

Speaking on the occasion, Mr. Rahul Sharma, Dy. CEO - Aluminium Business, said, "The health and wellbeing of our people is our foremost priority, and we continue to adhere to heightened safety protocols against the disease. We have put in place robust measures across all our plant sites to keep our workforce and families safe. We stand in solidarity with the entire country as we continue to battle the pandemic. We are taking several measures to secure the safety of our employees, business partners and their families against COVID and this insurance policy is a small but significant step in this direction."

Mr. Moin Kazi, Director - Occupational Health Business of Wellspring Healthcare Pvt. Ltd., which is Vedanta's business partner in providing COVID treatment at its Jharsuguda plant said, "As Vedanta's healthcare partner, we have deployed required infrastructure and staff to provide proper care and treatment to anyone affected by COVID. We are constantly monitoring the collective health status in the plant and township. Our staff are working round the clock to ensure health and wellbeing of employees, families and business partners."

Vedanta has marshalled resources across its plants and state-of-the-art townships in remote locations of Odisha and Chhattisgarh to safeguard its workforce and families. Few examples:

- 24X7 health helpline has been established in association with Apollo Hospitals.

- Over 7500 employees, families and business partners have been vaccinated free of cost till date, with plans for 100% vaccination in the shortest time span.

- Vedanta's 550+ bedded COVID Care Centres and Quarantine Facilities in Odisha and Chhattisgarh are equipped with required infrastructure and medical personnel to care for those affected by COVID.

- COVID Task Forces are engaged in round-the-clock monitoring of the impact on the entire workforce and families of employees.

- Drones and CCTVs are being used along with regular security patrols for enhanced surveillance of social-distancing compliance at plant and townships.

- To ensure social distancing at shops selling vegetables, milk, groceries etc in the township, an online timeslot-booking portal has been developed inhouse to regulate the number of people and timings during which they can go to the shops to buy essentials.

- Mass Rapid Antigen tests are being carried out free of cost in plants and townships for early detection and treatment.

- Paid leave for all COVID affected employees during treatment and recuperation.

- All need-based support from daily essentials to medical and healthcare assistance being provided to ensure that employee well-being and recovery is prioritized.

- Telemedicine facility is being made available wherein patients can connect with the doctors through phone and video-consultation.

- All travel to and from plants and townships are currently restricted to ensure minimal external contact.

- Vedanta's own hospitals are in a state of preparedness to cater to any medical needs of workforce.

- Business continuity is being ensured with reduced workforce and work from home is in place for all non-essential staff.

Beyond operations, Vedanta is conducting awareness drives to sensitize communities on COVID prevention and the benefits of vaccination, distributing sanitation kits and sanitizing public places in the communities and peripheral villages. The company has plans to set up two COVID field hospitals at Odisha and Chhattisgarh to aid the state governments in providing proper treatment to the affected. To ensure uninterrupted supply of oxygen to patients in Jharsuguda, Vedanta is providing oxygen cylinders to district hospitals. Recently, the company also provided 10,000 RT-PCR testing kits to the district hospital in Bhawanipatna, Odisha.

Vedanta Aluminium & Power Business, a division of Vedanta Limited, is India's largest producer of aluminium, producing almost half of India's Aluminium or 1.9 million tonnes per annum (MTPA) in FY20, and is also one of the largest private power producers in the country. BALCO is a part of Vedanta's Aluminium and Power Business. Vedanta is a leader in value-added aluminium products that find critical applications in core industries. With its world-class smelters, power plants and alumina refinery spread across India, the company fulfils its mission of spurring emerging applications of aluminium as the 'Metal of the Future' for a greener tomorrow.

Shares of Vedanta Limited was last trading in BSE at Rs.278.8 as compared to the previous close of Rs. 272.35. The total number of shares traded during the day was 536701 in over 3804 trades.

The stock hit an intraday high of Rs. 279.7 and intraday low of 273.35. The net turnover during the day was Rs. 148238888.

Source: Equity Bulls

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