Business Standard
Expansion plans in rolling mills and strategic automotive capacity - Novelis
Edited by : AL CIRCLE
1 min read
Through Novelis, Hindalco is trying to capture the upstream market of value added aluminium products such as beverage cans. Novelis also makes aluminium for cars.
Novelis plans to invest between $500-600 million (roughly Rs 3,120 crore) in its global expansion plans in the current year.
Most of this capital expenditure is happening in its Brazilian and Asian rolling mill expansion, and strategic automotive capacity increase in North America.In its Pinda plant in Brazil, Novelis is spending $300 million (Rs 1,560 crore) over the next two years to expand the aluminium rolling capacity by over 50 per cent.
In Asia, apart from the 31.2 per cent stake to make Novelis Korea a complete Novelis subsidiary, the company is also spending $400 million (Rs 2,080 crore) in its aluminium rolling and recycling plants. The total capacity to make aluminium sheets in Korea will increase to 1,000 kilo tonnes per year in FY13, raising Novelis' aluminium sheet capacity in Asia by more than 50 per cent.
Novelis' can-body plant of Rogerstone, UK, is being shifted to India. The machinery has been transported to Hindalco's Hirakud plant and it is scheduled to start in early 2012.
Novelis plans to invest between $500-600 million (roughly Rs 3,120 crore) in its global expansion plans in the current year.
Most of this capital expenditure is happening in its Brazilian and Asian rolling mill expansion, and strategic automotive capacity increase in North America.In its Pinda plant in Brazil, Novelis is spending $300 million (Rs 1,560 crore) over the next two years to expand the aluminium rolling capacity by over 50 per cent.
In Asia, apart from the 31.2 per cent stake to make Novelis Korea a complete Novelis subsidiary, the company is also spending $400 million (Rs 2,080 crore) in its aluminium rolling and recycling plants. The total capacity to make aluminium sheets in Korea will increase to 1,000 kilo tonnes per year in FY13, raising Novelis' aluminium sheet capacity in Asia by more than 50 per cent.
Novelis' can-body plant of Rogerstone, UK, is being shifted to India. The machinery has been transported to Hindalco's Hirakud plant and it is scheduled to start in early 2012.
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