Hindalco to expand value added products capacity by 66 percent
Hindalco Industries Ltd. has an intention to invest $773 million in the next five years in order to increase its capacity to manufacture processed products such as aluminium panels. The reason behind the intention is the country’s plan to boost investments in building infrastructure.
According to Managing Director Satish Pai, the company is looking for any distressed rolling mills or extrusion presses for sale in India for expanding annual production of value-added products about 66 percent to 800,000 tons.
The company will be focusing on the downstream products and the automotive sector due to overcapacity in domestic primary aluminium markets. Pai said, “If we want to take advantage of the Modi plan, we need to have downstream products.” This means “more cables, conductors, housing panels, and foils.”
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Pai said, Novelis, a Hindalco Industries unit, is planning to invest more in the automotive sector. “Novelis is a big part of the growth story -- we will be putting in more investments to expand into the auto sector.”
Hindalco intends to establish high-end aluminium plant for India’s defence sector
Next articleGermany exports about 1.5 million tonnes of aluminium plates, sheets and strips every year
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