Latest NewsMetals, Minerals, CoalNews Snippets

Hindalco Plans USD 8 Billion Capex Over the Coming 5 Years

Hindalco, one of India’s major Aluminium companies, plans to invest approximately USD 8 billion in the coming 5 years as CAPEX. This information was given by the company’s Chairman, Mr. Kumar Mangalam Birla, at Hindalco’s Annual General Meeting (AGM) held on 23rd August 2022.

Hindalco’s CAPEX will be towards its operations in India, and in Novelis, it’s America-based subsidiary. As per the company, Novelis has identified investment avenues worth USD 4.5 billion.

In India, the company has found about USD 3 million worth of investment possibilities.

Mr. Birla also stated that almost 70% of Hindalco’s cash flow will be used towards segments like Consumer Durables, Electric Vehicles, Batteries, etc. The company has also set targets for Renewable Energy (RE) generation and is eyeing 300 MW RE capacity by FY-25.