Due to the global short supply and the optimistic demand prospect, Hindalco planned to invest US$7.2 billion to expand its aluminum business over the next five years, mainly for the business in India and North America.
Hindalco has saved around US$2.4 billion for its aluminum operations in India during the five years ending March 2027 due to the expected doubled consumption in the next ten years.
In addition, the company planned to expand the capacity of its Aditya Mahan smelter by 50,000 tons by March 2024. It is also considering increasing another 180,000 tons per year at the same location and building a refinery with an annual capacity of 1 million tons in Odisha and other expansion projects.
Hindalco to invest $7.2 billion to expand aluminum business in next 5 years
1 Apr 2022 18:01 reported by Joy Liu
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