Aditya Birla Group-owned Hindalco Industries is already among the largest aluminium and copper players globally. The company has plans to invest ₹45,000 crore over the next 3-4 years across various segments, the company declared.
"We are committing ₹45,000 crore across the aluminium, copper and speciality alumina businesses to deliver both upstream and next-gen highprecision engineered products to our customers," said Kumar Mangalam Birla, chairman of the Aditya Birla Group.
He was speaking at the launch of Hindalco's new brand identity.
"We are going to do copper smelter and aluminium smelter and alumina refinery, copper recycling plant, fused alumina plant, aluminium foil, copper foil. So, a mix of both upstream and downstream is the investment that we are going to do over the next 3-4 years, elaborated Satish Pai, the managing director of Hindalco.
Hindalco produces 1.3 million tonnes aluminium, making it India’s largest fully integrated producer. Its subsidiary, Novelis, with a capacity of 4.2 million tonnes, is the world’s largest producer of flat-rolled aluminium products.
In copper, the company is the second-largest producer of copper rods outside China and is on track to surpass 1 million tonnes of refined copper production, noted Birla.
According to Birla, Hindalco is now positioned as a provider of solutions, collaborating with customers.
"We have always been strong in meeting our customers’ needs for metals. But now, we are taking solutioneering to the next level— in EV mobility, renewable energy, energy storage, semiconductors, and high-end electronics," said Birla.
He pointed Hindalco is developing hard alloy products for defence and working with ISRO on components for Chandrayaan and Mangalyaan. The company is also setting up India's first copper foil facility for electric vehicles, he added.
In recent years, the government has been doing much of the heavy lifting in capital expenditure.
Birla reiterated that time was ripe for corporate India to start investing in capital expenditure.
"We have all the basics in place in terms of the economy, in terms of the health of companies in general, the health of the banking system and I think the way to compete and grow is to invest and I don't see the reason for us to wait and watch," said Birla.
