Hindalco expansion plans on track

ET reported that all expansion program of Hindalco Industries, the flagship company of the Aditya Birla group, are on track and would not be scaled down. Mr Debu Bhattacharya MD of Hindalco Industries Limited said that “All our projects are on track and we are not postponing or scaling down any of our plans.” The report added that Hindalco may spend about INR 25,000 crore over the next 5 years for expanding capacity by as much as 3 times in aluminium and copper. Hindalco, however, continues to face problems in Novelis, the Atlanta based aluminium major Hindalco bought last year, as recession in Europe and America is forcing auto companies to cut down on their metal purchases. Hindalco is scheduled to commission the Aditya Aluminium project in Orissa by October 2011. The project includes a 1.15 million tonne alumina refinery and a 350,000 tonne aluminium smelter. It has acquired land for the project and also obtained environmental clearances for the smelter, the captive power plant and the alumina refinery. (Sourced from Economic Times)