Hindalco in $10-bn expansion plan in India, US

Hindalco is building India’s largest Copper Inner Groove Tube plant at Wagodia, Gujarat. This project will be commissioned this year -- Kumar Mangalam Birla, chairman, Hindalco Industries

New Delhi: Hindalco Industries will pump in $10 billion (Rs83,900 cr) in the ongoing and planned expansion projects in India and the US in the near term, its chairman Kumar Mangalam Birla said on Thursday.

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.

Addressing the company’s 65th annual general meeting, Birla said: “Our expansions across the India business and Novelis, will entail investments of $10 billion for ongoing projects as well as the ones envisioned in the near-term.” Novelis Inc is a subsidiary of Hindalco Industries. The company, he said, is setting up a greenfield alumina refinery in Rayagada, Odisha.