Hindalco to invest $2.5-3bn in capital expenditures to promote corporate growth in the next five years, said Hindalco Chairman Kumar Mangalam Birla on an annual meeting with shareholders on Monday.
The company plans to carry out expansion projects at Novelis for its automobile production lines in the US and China, said Birla, adding that the company has plans to carry out rolling and recycling capacity expansion in Brazil.
With regards to this, the company expects to invest more than $1bn on the Utkal alumina plant, copper and aluminium downstream project expansion and the construction of special alumina projects.
The downstream strategy for India involves reducing the country’s exposure to global aluminium price fluctuations and increasing the share of value-added productions across businesses, said Birla.
Hindalco has delinked more than 80pc of its consolidated EBITDA from the volatility of the global metal market, he added.
Aditya Birla Group has chalked out a clear Environmental, Social and Governance commitment roadmap to achieve net neutrality by 2050.