Question

hindalco to invest rs 6,000 crore on downstream facilities business line

Answer 1

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Hindalco, the country’s largest aluminium producer, will invest “at least” ₹6,000 crore towards setting up of downstream facilities in India over the next four years. The investments will be made at Mudra in Gujarat where it will set up an extrusion plant, while in the Sambalpur district in Odisha it will opt for setting up a flat rolled products unit.

According to Satish Pai, MD, Hindalco, expansion of units for downstream products takes time and will be done through a phase-wise manner.

The Aditya Birla Group company had recently signed a memorandum of understanding (MoU) with the Gujarat government for a Rs 2,100-crore investment at the extrusion plant in Mudra with an annual capacity of 137,000 tonnes. It already has two extrusion plants at Renukoot, Uttar Pradesh, and Alupuram, Kerala, with a combined capacity of 60,000 tonnes per annum.

In Sambalpur, Hindalco will invest close to ₹4,000 crore where its flat rolled products unit will have an annual capacity of 375,000 tonnes per annum.

“We have committed to set up downstream facilities in Gujarat and here in Odisha by investing over ₹6,000 crore over the next four years,” Pai told BusinessLine during an interview on the sidelines of the Make-in-Odisha Conclave 2018, a biennial investor conclave, organised by the State Government.

India capex and raw material concerns

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