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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The new Nokia 7 with 7000 series aluminium frame launched in India
HMD Global, the company endeavouring to bring Nokia back into the smartphone market, has just released another smartphone in India in the form of the Nokia 7. The 7000 series aluminium-framed Nokia 7 marks a mid-level entry into the Finnish company's Android smartphone line-up - between the budget...
Vedanta Chairman Anil Agarwal to set up a US$1 billion VC fund for Indian startups
Anil Agarwal, the founder and Chairman of the mining and metals major Vedanta Resources Plc, is considering the launch of a one billion dollar venture capital fund to help promising young Indian entrepreneurs build their start-ups. With the VC fund, Agarwal will be joining the league of...
Rockman Industries’ INR 652-cr aluminium alloy wheel project in AP gets govt approval
India’s Rockman Industries Limited has announced that it will invest INR 652 crore to set up an aluminium alloy wheels and die casting component manufacturing unit in Andhra Pradesh. The project, planned to come up in Chittoor district of Rayalaseema region of AP, is expected to create 1,000 direct...
Nalco to form JVs with Almex and Rusal for special grade aluminium
Nalco is in talks with Almex and Rusal to form joint ventures at the upcoming Angul Aluminium Park in Odisha for the production of high-grade aluminium. Nalco Chairman and Managing Director T K Chand told PTI that the aluminium will be used in in metro trains, e-vehicles, aerospace and automobile...
Hindalco Industries planning INR 4,000-cr expansion in Hirakud aluminium FRP unit
Hindalco Industries has drawn up plans to expand the capacity of its aluminium rolling mill at Hirakud, Odisha. The company will invest INR 4,000 crore to ramp up the capacity to 3,75,000 tonnes per annum from the current 1,35,000 tonnes per annum. It is looking for 100 acres of land in the...
LME aluminium prices strengthen on declining inventories
LME aluminium prices are holding at highs. With the inventories falling by 10,800 tonnes to 1,218,950 tonnes, the light metal contract edged further up to close at US$2,144 per tonne on Monday, October 16 from US$2,140 per tonne last Friday, October 13. Technical analysis and recent price movements...
Odisha gearing up to be the downstream aluminium hub of India
The Government of Odisha is intensifying efforts to build an inclusive environment for ancillary and aluminium downstream units in the state. Following the success of the last month’s meet organized in collaboration with Tata Steel and Jindal Stainless (JSL) in Kalinganagar, the state government is...
Estimated aluminium wire export by Malaysia to register a growth in 2017
The demand for aluminium wire is increasing day by day. The automotive, transportation and construction drive the market for aluminium wire worldwide. {newsStudioGallery} Malaysia, the 20th largest exporter in the world, is estimated to witness an increase in exports of aluminium wire this year....
India’s EV dream to boost renewable energy and aluminium demand in next decade
Electrification of all the vehicles in India within financial year 2016-17, would result in an incremental electricity demand of around 50,000 crore units, India Ratings and Research (Ind-Ra) estimated. This is in comparison with the actual electricity output of 1.43 lakh crore units, including...
Anrak Aluminium’s insolvency petition rejected by NCLT Hyderabad bench
The National Company Law Tribunal (NCLT) of India has decided to reject the insolvency petition filed by Anrak Aluminium, The company and the lenders had pleaded for liquidation claiming to have explored all the available options. But NCLT Hyderabad bench advised them to approach government...
Global HPA demand to reach 86,831 tpa growing at 17% CAGR by 2024, Iggy Tan
Altech Chemicals’ managing director, Iggy Tan said global high purity alumina demand is expected to reach 86,831 tonnes per annum by 2024 growing from 25,315 tonnes per annum in 2016. The market will grow at a CAGR of 17 per cent driven by LED and lithium-ion battery segment growth. Global demand...
Non-alloyed aluminium ingot export by India totalled 376 tonnes during Apr-Jul 2017
India’s exports have shrunk considerably in FY 2017 alongside a slow growth in the domestic manufacturing sector. As compared to an export target of US$900 billion by 2020, exports were less than a third at US$275 billion in the last financial year. The figure is strikingly lower than FY 2014’s...
LME aluminium inches lower as US dollar holds gain
LME aluminium has dropped slightly. With the US dollar index moving higher after strong US data, the light metal contract slipped to US$2,124 per tonne on Thursday, October 5, from the earlier close of US$2,139 per tonne. Reuters’ technical analysis suggests that LME aluminium may break a...
LME aluminium jumps to US$2,139.5/t; further rise is likely
LME aluminium has gained further. The light metal contract which closed at US$2,114 per tonne on Tuesday, October 3, reversing its current downtrend toward US$2,066 per tonne, has jumped to US$2,139.50 per tonne on Wednesday, October 4. Reuters’ technical analysis suggests that LME aluminium may...
Xiaomi Mi Mix 2 with aluminium frame and ceramic body debuts in India on Oct 10
Mobile handset brand Xiaomi has announced the launch of its new bezel-less smartphone Xiaomi Mi Mix 2 in India on October 10. Mi Mix 2 will be the flagship device for India, which makes an entry after a long wait, confirmed Xiaomi's India head Manu Kumar Jain. The last flagship phone Xiaomi...
Global activated alumina market to be valued at US$1.32 bln by 2025
According to a recent study by Grand View Research Inc., the global activated alumina market is projected to reach US$1.32 billion by 2025 growing at a CAGR of 5.4 per cent. Growing demand from key end-user industries such as, Water Treatment, Oil & Gas will drive the growth in the market. A robust...
India govt to auction INR1.5 lakh crore worth of minerals including bauxite in H2 FY18
The Government of India has set an auction target of INR 2 lakh crore worth of minerals in 2017-18. Out of this amount, only INR 48,000 crore worth of minerals including iron ore, bauxite, limestone, and manganese was auctioned in last six months. In the next six months, and another INR 1.50 lakh...
Nalco, GMDC not to continue with aluminium smelter project in Gujarat
National Aluminium Company (Nalco) and Gujarat Mineral Development Corporation (GMDC) have decided not to go ahead with the aluminium smelter plant project in Gujrat. GMDC said that the company has initiated the process for repayment of the amount to Nalco without interest subject to approval of...
