In fact, that is an old plan that was shelved and has now been revived. Hindalco has actually revived a $947 million plan to make additional value-added aluminum products. This is to coincide with the recovery in the economy post COVID. This investment of Rs.7000 crore will allow Hindalco to double its annual downstream capacity to 6 lakh tons.
It will set up a 34,000-ton aluminum extrusion project in Silvassa near Gujarat and production was likely to commence in the next 2 years. In June, Hindalco had spoken about slowing down its expansion, but surely times have changed now. The downstream value-added products are expected to be value accretive as they are high margin products.
Hindalco MD, Satish Pai, projected that India’s demand for such value-added downstream products would jump to 850,000 tons by 2030 from 373,000 tons currently and they want to capture the bulk of that boost.
In fact, that is an old plan that was shelved and has now been revived. Hindalco has actually revived a $947 million plan to make additional value-added aluminum products. This is to coincide with the recovery in the economy post COVID. This investment of Rs.7000 crore will allow Hindalco to double its annual downstream capacity to 6 lakh tons.
It will set up a 34,000-ton aluminum extrusion project in Silvassa near Gujarat and production was likely to commence in the next 2 years. In June, Hindalco had spoken about slowing down its expansion, but surely times have changed now. The downstream value-added products are expected to be value accretive as they are high margin products.
Hindalco MD, Satish Pai, projected that India’s demand for such value-added downstream products would jump to 850,000 tons by 2030 from 373,000 tons currently and they want to capture the bulk of that boost.