Hindalco to invest Rs 3,000cr to boost flat rolled products capacity

Hindalco Industries Limited said that its board of directors has sanctioned the company’s plans for an INR 3,000 crores expansion project to ramp up its flat rolled products capacity.

In this connection, the Indian aluminum and copper manufacturing company will undertake a downstream flat rolled project (FRP) at its existing facilities at Hirakud and Aditya in Odisha.

The project, which will give Hindalco Industries an additional production capacity of 170 KTPA of flat rolled products, will be implemented in 36 months.

The commercial production from the flat rolled project is estimated to begin by the financial year 2025.

Hindalco Industries to invest Rs 3,000cr to boost flat rolled products capacity. Photo courtesy of PublicDomainPictures from Pixabay.

Hindalco Industries Limited is the flagship company of the Aditya Birla Group. Recently, the aluminum and copper manufacturing company reported an all-time high profit after tax at INR 2,787 crores for Q1 FY22, which is a 493% surge year-over-year.

Earlier this year, Hindalco Industries said that its subsidiary — Novelis will inject around $300 million for growing its automotive aluminum capabilities and recycling operations at its Zhenjiang aluminum plant in China.