India’s Hindalco to invest $5.2 billion across metals business
Hindalco Industries, one of India’s largest aluminum and copper producers, said on Thursday it plans to invest 450 billion rupees ($5.21 billion) in its aluminum, copper, and specialty alumina businesses.
The investment will be to deliver both upstream and high-precision engineered products, Hindalco said in a filing.
The company is on track to surpass 1 million ton of refined copper production, Kumar Mangalam Birla, chairman of Aditya Birla Group, said in an address during a company event.
“The journey marks a transformative path from a metals supplier to an engineered solutions partner,” Birla said.
Hindalco is working on automotive, electric vehicles, packaging, and also collaborating with battery manufacturers, he said.
($1 = 86.3350 Indian rupees)
(By Sethuraman NR; Editing by Savio D’Souza)
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