Adani-IHC expand Odisha investment plans to $25bn across 14 projects
Abu Dhabi-based International Holding Company (IHC) and India’s Adani Group have expanded their investment plans in Odisha, outlining INR 2.105 trillion (USD 25 billion) of potential investment across 14 projects spanning metals, critical minerals, energy, chemicals and infrastructure. The...
Odisha CM visits EGA Jebel Ali, highlights NALCO–EGA aluminium partnership
Odisha Chief Minister Mohan Charan Majhi visited Emirates Global Aluminium’s (EGA) Jebel Ali site in Dubai, highlighting the strategic importance of the NALCO–EGA technology licensing partnership in strengthening Odisha’s aluminium industry. During the visit, Majhi emphasised how the collaboration...
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Make in India focus: DMRL developing aluminium alloy technologies for critical defence applications
Aluminium alloys have emerged as the most preferred material for a variety of space and defence applications due to its high strength-to-weight ratio, high corrosion resistance, high stress corrosion cracking resistance, high weldability, easy fabricability and excellent recyclability. According to...
Canada infra roadmap creates investment opportunities; reduces import dependence of aluminium extruded products
Canadian Minister for Infrastructure and Communities, Amarjeet Sohi who is accompanying Prime Minister, Justin Trudeau on his 8-day tour in India, said yesterday in Kolkata that there is ample opportunity for Indians to participate in the North American nation’s ambitious 10-year infrastructure...
Odisha to collect fine for excess production of bauxite &other minerals
India’s Odisha government may collect INR 270 billion from bauxite miners and miners of other minerals for indulging in excess production. The government has planned to send demand notices to the non-ferrous mine leaseholders for extracting beyond the approved limits. A government official said:...
Aluminium scrap to become cheaper post vehicular scrapping policy in India
India transport ministry is close to finalizing the policy to scrap 15 plus-year old vehicles. The policy aimed to curb vehicular pollution in the country will make raw materials for vehicles like aluminium, copper, plastic, and rubber cheaper as secondary aluminium and other materials generated...
Rep. Walorski concerned aluminium tariff will hurt Indiana Recreational Vehicle industry
President Donald Trump is gearing up for a protective trade policy to safeguard the interests of domestic metal producers, especially steel and aluminium industry. Rep. Jackie Walorski (R-IN) believes that while trying to achieve a level playing field by imposing tariffs on imported aluminium and...
Xiaomi launches Mi TV with aluminium alloy frame in India
Chinese electronics and software company Xiaomi has entered Indian television market with a premium brand. The Mi TV- built on an aluminium alloy frame is priced same as its high-end yet affordable counterpart- 4K LED televisions in China. Source: VentureBeat What sets Mi TV 4 apart from other...
India’s mineral production estimated to grow 5-8% in 2018-19
India’s major industrial mineral production including iron ore, bauxite, limestone, chromium and manganese may witness a 5-8 per cent growth this year, a senior Ministry of Mines official said yesterday in Hyderabad. The volume growth will be reflected in much higher value terms in comparison to...
Aluminium auto component maker Minda Corp’s Q3 FY18 revenues up 25.2% YoY
Leading Indian automotive component manufacturer for OEMs, Minda Corporation of Ashok Minda Group has posted six percent increase (year-on-year) in net profit margins in the third quarter ending December 31, 2017. From INR 21.3 crore in Q3 FY 2017, net profit has increased to INR 37.9 crore this...
Nalco’s Q3 net profit soars 207%, highest-ever profit in 10 years
National Aluminium Company Limited (Nalco) has published its financial results for & upto third quarter ended December 2017. The company has registered a record net profit of INR 722 crore, from INR 144 crore in the corresponding quarter of previous fiscal. The company has been able to break the...
Aluminium forgings for hybrid cars will keep the orders coming for Indian foundry sector players
At a time when India’s foundry sector stands worried at the possible outcome of electric vehicle revolution in the country, Association of Indian Forging Industry President Muralishankar Sambasivam assured that hybrid cars too will make a space in the marketplace; and that would help maintain the...
Auto Expo 2018: Aluminium automotive parts shine bright in new launches
Auto Expo 2018- the biggest automotive industry event in India, witnessed unveiling of a number of new age vehicle on the very first day. Some of the biggest launches showcased aluminium auto parts in various capacities. Here’s a sneak peek at the vehicles donning aluminium auto body accents and...
Spark Minda inaugurates aluminium die casting factory in Pune
Spark Minda, Ashok Minda Group has opened third die casting facility with an initial capital investment of INR 100 crore in Phase -1. The Group has established manufacturing facility exclusively for aluminium gravity die casting & low pressure die casting with machining in Pune for two and four...
Union Budget 2018 brings hopes galore for Indian aluminium industry, but zero promises
Judging by the somewhat stoic reaction of the Indian aluminium industry after the unveiling of Budget 2018 last Thursday, February 1, it is not hard to tell that the announcements have failed its expectations. Not a single demand or wish from the list of many has been addressed in the last budget...
Delhi Scrapping of Vehicles Rules, 2018 to fuel aluminium scrap recovery in India
India is set to witness a surge in aluminium scrap recovery as Delhi prepares to scrap all old vehicles by the end of 2018. Delhi became the fifth largest passenger vehicle market in 2016, and since then PV sales in the state has been rising sharply. After the recent pollution alert in the capital,...
Hindalco’s net profit rises 17% in Q3 FY18
Hindalco Industries Ltd., released standalone unaudited financial results for the quarter ended December 31, 2017. The company produced 323 thousand tonnes of aluminium in Q3 FY18. VAP (including Wire Rod) production stood at 123 thousand tonnes, up 3 per cent. Hindalco’s revenue increased 18.4 per...
Union Budget 2018: Indian aluminium sector’s wish list from Finance
As Finance Minister Arun Jaitley starts to present Union Budget 2018 today at Parliament, Indian aluminium sector waits eagerly to see if its wishes and demands are fulfilled. The aluminium industry wants duty on essential raw materials of aluminium production like alumina and coal tar pitch to be...
Vedanta’s revenue increases 19% YoY on improved aluminium volumes in Q3 FY18
Vedanta Limited has announced its unaudited consolidated results for the third quarter ended 31 December, 2017. The company has reported 19 per cent increase year-on-year in revenue in the fiscal third quarter. Mr. Kuldip Kaura, Chief Executive Officer, Vedanta Ltd, said: "We delivered a robust...
MCX aluminium futures slide 0.53% on muted demand, global cues
Aluminium prices moved down by 0.53 per cent to INR 140.80 per kg in futures trade today as speculators reduced exposure amid easing demand in the spot market. Besides, a weak trend overseas weighed on prices. At the Multi Commodity Exchange, aluminium for delivery in January edged down by 75...
