Mr. Satish Pai, Managing Director, Hindalco Industries in a press statement stated that Hindalco is planning to invest INR 3,000 Crore in next two years. Major part of this investment will go for increasing flat-rolled Steel production capacity at Hirakud which will cost around INR 2,700 Crore.
Rest of the capex will go for producing Alumina specialty chemicals. Hindalco’s Research and Development team has developed special Alumina and Alumina Hydrate products in-house at Hindalco Innovation Centre-Alumina located in Belgaum, Karnataka. These are used in applications like refractories, ceramics, polishing compounds, abrasives and glass.
Mr. Satish further added that production cost for Aluminium is expected to go up by 3% in the March quarter due to increase in prices of Coal and other raw material.