MUMBAI--India's largest aluminum producer Hindalco Industries Ltd. (500440.BY) aims to increase its production by 6.2% on year to 475,000 metric tons in the fiscal year ending March 31, 2008, as it has expanded its integrated aluminum production facility in Uttar Pradesh and increased output from its Hirakud smelting facility in Orissa, a senior company official said.
India's financial year runs from April to March.
"The company will also raise its downstream aluminum production by 20,000 tons to 265,000-700,000 tons by March 31, 2008, because of good demand for such products," Hindalco's executive president Sashi K. Maudgal told reporters late Tuesday.
Demand for downstream aluminum products like roofing sheets, bus tops, building construction materials and electrical appliances is rising steadily in India because of rapid economic growth, he said.
Hindalco Industries Ltd. is Aditya Birla Group's flagship company and a market leader in aluminum and copper production, with an annual turnover of more than INR113 billion in the financial year ended March 2006.
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