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)