Hindalco Industries is planning to pump in $10 billion (around Rs 83,900 crore) in the ongoing and planned expansion projects in India and the US in the near term. The projects included the expansion of Aditya Flat Rolled Products (FRP) plant, the new alumina refinery in Rayagada, Odisha, and the Novelis Inc's Bay Minnette project.
The company is setting up a greenfield alumina refinery in Rayagada, Odisha. The first phase of 850,000 tonnes is expected to be commissioned in FY27. Hindalco is currently evaluating a nearly 200,000 tonne brownfield expansion at its Aditya Aluminium smelter in Odisha, which will be substantially powered by renewable energy.
The company also plans to expand its copper smelting capacity and is exploring setting up a brownfield facility in Gujarat to meet the growing needs of the country for this critical metal. Hindalco is building the country's largest Copper Inner Groove Tube plant at Wagodia, Gujarat. This project will be commissioned by the end of this calendar year and will reduce the import dependence for this key component in air conditioners.
Novelis continues to make steady progress across a number of strategic capital investments. The largest among these is the US rolling and recycling investment in Bay Minette.
Hindalco Industries is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.
| Company Name | CMP |
|---|---|
| Hindalco | 623.75 |
| Vedanta | 477.50 |
| Hindustan Zinc | 469.35 |
| Gravita India | 2330.25 |
| Ram Ratna Wires | 580.35 |
| View more.. | |
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