Kumar Mangalam Birla, chairman of Hindalco Industries, said on Monday (August 23) that the firm has planned to keep the growth capital expenditure (capex) of US$2.5-3 billion over the next five years so as to promote the growth for the enterprise.
A part of the capex will be used in Novelis’ business regions, especially in the expansion projects of automobile production lines in the US and China, as well as the rolling and recycling capacity expansion projects in Brazil.
The capex used in India’s domestic projects has been arranged for more than US$1 billion, mainly on the expansion plan of Utkal Alumina refinery and the expansion of copper and aluminum downstream projects.
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