Hindalco To Invest $10 Billion In Indian Operations, Novelis Expansion: Kumar Mangalam Birla

Hindalco Industries Ltd. will invest $10 billion in its Indian operations and US-based subsidiary Novelis, according to Kumar Mangalam Birla, chairperson of Aditya Birla Group.

The funds will be used for existing projects and new ventures, including expansions of aluminum and copper smelters, a new alumina refinery in eastern India, and Novelis' Bay Minnette project, Birla said during the annual general meeting on Thursday.

"Our expansions across the India business and Novelis will entail investments of $10 billion for ongoing projects as well as the ones envisioned in the near term," Birla said. "This includes the aluminium and copper smelter expansions, the Aditya FRP plant, the new alumina refinery in Rayagada, and the Bay Minnette expansion in Novelis."

The company plans to inaugurate a new alumina refinery in Rayagada, Odisha, with an initial capacity of 8.5 lakh tonnes, expected to start in financial year 2027. Hindalco is also eyeing an expansion of 2 lakh tonnes at their Aditya Aluminium smelter in Odisha, which will utilise renewable energy, according to Birla.

He said Hindalco was expanding its copper smelting capacity and considering a new plant in Gujarat to address the growing demand. "Your company (Hindalco) is also constructing a copper inner groove tube facility in Waghodia, Gujarat, with completion expected by the end of the year," Birla said while addressing the investors at AGM.

Novelis is advancing several major investments, which includes a new rolling and recycling plant in Bay Minette, US, with a capacity of 6 lakh tonnes, he said. "This high-tech plant, starting up in late 2026, will give Novelis a competitive edge and has secured long-term contracts for its beverage packaging."

Shares of Hindalco closed 1.9% higher at Rs 685.60. That compared with 0.18% gains in the country's benchmark BSE Sensex.