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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DICV launches its all-aluminium body intercity bus in India
<p>Daimler India Commercial Vehicles (DICV), the wholly-owned subsidiary of Daimler, has launched its new BharatBenz 16 T intercity coach bus in India. The company opted for all-aluminium body to keep it lightweight and stable.</p> <p><img style="vertical-align: middle; display: block;...
Hindalco to retire debt worth INR 6,800 cr this year
<p>Hindalco Industries Limited, the metals flagship firm of the Aditya Birla Group and the world largest aluminium rolling company has been flush with funds after it successfully raised capital from qualified institutional placement (QIP).</p> <p>The company plans to use that fund to retire part of...
Suzlon commissions two renewable projects for Nalco
<p>Suzlon Group, one of the leading renewable energy solutions provider worldwide, has Installed and commissioned two renewable projects of 50.40 MW each for NALCO. Bothe the wind power plants are situated at Gondikota in Andhra Pradesh and Jath in Maharashtra.</p> <p><img style="vertical-align:...
MCX-aluminium futures bounce from a key support
<p>The MCX-aluminium futures contract on the Multi Commodity Exchange (MCX) fell last week, breaking below the support at INR 124 a kg. However, the 21-week moving average at around INR 122 aided in halting the fall.</p> <p>The contract made a low of INR 122.25 on Thursday and has reversed sharply...
India’s growing Li-ion battery market to charge up high purity alumina consumption
<p>India is on a fast track of growth. Pegged to be the fastest growing economy in the world in 2017-18 (forecasted growth rate 7.2%) as projected by the International Monetary Fund (IMF), the country stands to offer many emerging sectors the right opportunity to grow. One such sector is electric...
India aluminium scrap prices hold ground while aluminium futures decline on MCX
<p>Major aluminium scrap commodity prices in India market remained steady on Thursday, April 13, while aluminium futures prices on Multi Commodity Exchange (MCX) witnessed a slide. The overall price ended below at INR 123.10 per kilogram.</p> <p>India's aluminium scrap commodities, the major ones...
Nalco signs MoU with MIDHANI to produce high- end aluminium products
<p>Aluminium major Nalco signed a memorandum of understanding (MoU) with the Defence ministry PSU- Mishra Dhatu Nigam Ltd (Midhani) for manufacturing high-end aluminium products in order to reduce imports of such items.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto;...
Week in Review: Mergers and technology tie-ups mark Primary Aluminium amid volatility
<p>Primary aluminium industry this week was abuzz with news of big companies merging to create leading global entities, aluminium smelters signing technology partnerships with automation giants, and India showing strong aluminium demand prospects for the long-term.</p> <p>Here’s a review of...
Week in Review: How acquisitions and installations affected downstream aluminium industry
<p>With news coming up every day on downstream aluminium industry, AlCircle makes sure you’re informed on the latest acquisitions, installations, expansions and future outlook of the companies. Through this article, let’s revisit some of the news that you need to know from the...
Merger with Cairn to improve Vedanta's financial flexibility: S&P Global
<p>Vedanta Ltd, the mining subsidiary of the UK-listed Vedanta Resources that recently completed its merger with Cairn India, will get an access to $4 billion of cash and another about $700 million a year from the merger, said S&P Global Ratings. The fund will allow Vedanta Ltd to repay its...
Vikram Solar installs 20mW solar power unit for Jindal Aluminium’s extrusion plant in Bengaluru
<p>India's leading aluminium extrusions manufacturer Jindal Aluminium Limited has signed a contract with Vikram Solar to install a 20 megawatt solar power unit to power its plant near Bengaluru in Karnataka. The project covering 97-acres of land area with over 73,000 solar modules will deliver...
Vedanta Resources completes Vedanta - Cairn merger
<p>Vedanta Limited and Cairn India Limited have announced that the merger of Cairn India with Vedanta has become effective from today, April 12 2017.</p> <p>Based on CY 2016 reported EBITDA of diversified natural resources companies globally, Vedanta is ranked #6 among the global diversified...
‘Aluminium coaches from Talgo can help Indian Railways make profits’
<p>Indian Railways can rake in some profits from Mumbai-Ahmedabad and Delhi-Amritsar Shatabdi Expresses with the existing fare structure by running Talgo's lightweight aluminium-alloy coaches on lease, thinks the passenger train-maker from Spain. This will help the country's next eco-growth engine...
MCX aluminium to see range-bound trading at INR 122-130
<p>The aluminium futures contract traded on India's Multi Commodity Exchange (MCX) lost ground after scaling a high of INR 125.7 on Monday April 10. The increase was basically a bounce back from last week's decline when the contract tested support at INR 124 on Friday, April 8.</p> <p>MCX aluminium...
Rusal forms JV to produce high-tech aluminium paste & powders in India
<p>Rusal, one of the world's largest aluminium producers, inked a Joint Venture (JV) agreement with Runaya Metsource on equal terms to produce high technology aluminium paste and powders in India. Runaya Metsource is a Mumbai-based company promoted by the shareholders of Vedanta.</p> <p><img...
Nalco readies INR 25,000-crore investment for expansion
<p>National Aluminium Company (Nalco), a central government-owned entity, is set to join the club of million-tonne producers in the segment by 2020. It has readied about INR 25,000 crore of investment to expand its aluminium, alumina and power capacities.</p> <p>In the...
ICRA projects demand for base metals to remain positive in India
<p>Rating agency ICRA projected that the long- term demand for base metal would continue to be positive in India. The government’s investment on infrastructure projects for the smart city plan would drive the demand for base metals such as aluminium, copper and zinc.</p> <p><img...
Nalco rides high on bauxite
<p>The last quarter of 2016 helped mining and metal companies witnessed a reversal of fortune as inventories decreased and metal prices rebounded slowly but steadily. Metal stocks started soaring, as investors participated actively on expectations of better times ahead.</p> <p>National Aluminium...
