Business

Hindalco to invest Rs 3,500 crore for aluminium extrusion and recycling plant

Hindalco Industries Ltd, an Aditya Birla Group company, will be investing an estimated Rs 3,500 crore to set up the country’s biggest aluminium extrusion and recycling plant in Gujarat. A memorandum of understanding (MoU) in this regard was signed between the company and Gujarat government on Friday.

The MoU was signed by Satish Pai, managing director of Hindalco and MK Das, principal secretary to the Gujarat Chief Minister. Hindalco plans to invest Rs 2,000 crore in two phases for the extrusion plant, having an annual production capacity of 1.5 lakh tonnes, stated a state government release.

The company already has two extrusion plants in Renkoot (Uttar Pradesh) and Alupuram (Kerala), which are capable of producing around 60,000 tonnes per annum products of various specifications and dimensions.

The company will be investing an additional Rs 1,500 crore in three phases for an Aluminium recycling unit with a recycling capacity of three lakh tonnes. This investment is expected to generate 3,000 jobs in the state, the release added.

Gujarat chief minister Vijay Rupani also discussed the idea of setting up a desalination plant to satiate the water needs of the proposed Hindalco facilities in the state.

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