Hindalco to invest USD 10 billion in Indian ops, Novelis

NEW DELHI: Kumar Mangalam Birla, chairperson of Aditya Birla Group, said Hindalco Industries’ expansion across the India business and US-based subsidiary Novelis will entail investments of $10 billion for ongoing projects as well as the ones envisioned in the near- -term. This includes the Aluminium and Copper smelter expansions, Aditya FRP plant, the new alumina refinery in Rayagada, and the Bay Minnette expansion in Novelis.

During the annual general meeting on Thursday, Birla said Hindalco is setting up a greenfield alumina refinery in Rayagada, Odisha. The first phase of 850,000 tonne is expected to be commissioned in FY27. Hindalco is evaluating a nearly 200,000 tonne-brownfield expansion at its Aditya Aluminium smelter in Odisha, which will be substantially powered by renewable energy.

It has plans to expand its copper smelting capacity and is exploring setting up a brownfield facility in Gujarat.

“Our company is building India’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 import dependence for this key component in air conditioners,” said Birla.

Birla stated there are macro factors driving consumption of aluminium and copper. He said aluminium consumption – which was at 5 million tonne (MT) in FY24 — will double to 10 MT over next decade. He expects copper consumption to grow 10% over next few years.