Bid & Tender

News

Hindalco Industries Plans Rs. 3,000cr Investment in Downstream Projects

Hindalco Industries, an Aditya Birla group company, is planning to invest Rs 3,000 crore over the next two years in downstream projects to increase contribution of value-added products and protect its earning from volatility on the London Metal Exchange.

 

The investment in increasing flat-rolled product capacity at Hirakud in Odisha itself will entail an investment of Rs 2,700 crore and the rest of the capex will go for producing alumina specialty chemicals.

 

Hindalco Industries has developed special alumina and alumina hydrates products through in-house technological innovation by its research and development (R&D) team at its Innovation Centre-Alumina.

 

The company has already lined up an investment of Rs 700 crore in setting up 34,000 tonne aluminium extrusion plant at Silvassa. The entire capex will be funded through internal accruals as the debt deleveraging exercise will continue through 2022.

BACK

Related News