Hindalco Industries' copper division has announced plans to invest Rs 2,450 crore in two major copper projects in Gujarat. This will include the establishment of an e-waste recycling facility at Dahej. As per Rohit Pathak, the CEO of Hindalco's copper business, the facility will process 300-350 kilotonnes of scrap and e-waste annually.
Media reports have also stated the Aditya Birla-owned entity also plans to enter the solar module manufacturing space.
E-waste Recycling Copper Plant
Pathak at a recent event stated, "We are beginning construction on India’s first copper and e-waste recycling plant at Dahej. In Phase 1, we aim to recover around 50 kilotonnes of copper, with the overall project targeting 200 kilotonnes. The plant will process 300-350 kilotonnes of scrap and e-waste annually.”
The major goal of this new facility is to reduce Hindalco's reliance on imported copper concentrates. Currently, the company imports about 1.3 million tonnes of copper concentrates for its smelter plant in Dahej.
The first phase of the project will involve a Rs 2,000 crore investment. The company could also scale this investment fourfold in the coming years. The recycling plant will also produce precious metals such as silver and gold.
Expansion of Copper Smelting Capacity
Pathak has also highlighted that the company plans to expand its copper smelting capacity in Dahej, which is already one of the largest copper smelting complexes globally.
The company plans to add 250-280 kilotonnes of capacity, which will increase production by 50-60%. This will be done with the goal of meeting India’s growing demand for copper.
Also Read: Hindalco Q1 Results Review - Weak Volumes, LME Hedging Impacts The Quarter: Prabhudas Lilladher
Copper Tube Manufacturing
Hindalco's copper division will also set up a Rs 450 crore copper tube manufacturing unit in Vadodara. This unit will produce copper tubes used in air conditioning and refrigeration systems.
The company's Waghodia plant currently has an initial capacity of 25,000 tonnes. This capacity will be expanded to 75,000 tonnes, which will require an additional Rs 1,500 crore investment, as per Pathak.
Solar Module Manufacturing
Recent media reports have also stated that Hindalco Industries is planning to start a solar modules manufacturing plant in Gujarat, and is currently evaluating a five-year plan for the same.
As per the reports, the company is yet to get board approval and finalise its capital expenditure plans for this project. But people familiar with the matter did state that the solar module manufacturing business would be a good fit, given Hindalco's dominance in aluminum manufacturing.
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