Hindalco earmarks $2.5-3 billion capex for next five years
Steel

Hindalco earmarks $2.5-3 billion capex for next five years

Hindalco Industries Limited, a subsidiary of Aditya Birla Group company, has earmarked capital expenditure (capex) of $2.5 to $3 billion on a consolidated basis over the next five years.

Hindalco Industries Chairman, Kumar Mangalam Birla, said the company is on track to execute organic growth projects involving a capital outlay of over $ 1 billion towards Utkal alumina expansion, specialty alumina projects, various aluminum and copper downstream expansions. In Novelis, the capex will be invested chiefly in auto-finishing line expansions in the United States and China and rolling and recycling capacity expansions in Brazil.

These investments will push the strategy of building a more predictable and resilient business model, Birla said.

The company had recorded a net profit of Rs 2,787 crore in the quarter ended June 30, against a net loss of Rs 709 crore in the same period last year, driven mainly by the higher realisation and better contribution by Novelis. Novelis reported an all-time high quarterly earnings before interest, taxes, depreciation, and amortisation

(EBITDA) of Rs 4,090 crore against Rs 1,919 crore due to an increase in innovative and sustainable aluminum products demand.

The last 18 months have been among the toughest times for the industry with an unprecedented passage of time that has tested the corporations' and individuals' resilience.

Through this unsettling period, it has been exciting to see how the Hindalco ecosystem developed and grew, he added.

Birla said companies need to look beyond short-term aims to ensure sustainable growth in the fast-changing world.

Image Source


Also read: JSW Infrastructure aims Rs 10,000 crore capex over five years

Also read: Coal India plans Rs 17,000 cr capital expenditure target in FY22

Hindalco Industries Limited, a subsidiary of Aditya Birla Group company, has earmarked capital expenditure (capex) of $2.5 to $3 billion on a consolidated basis over the next five years. Hindalco Industries Chairman, Kumar Mangalam Birla, said the company is on track to execute organic growth projects involving a capital outlay of over $ 1 billion towards Utkal alumina expansion, specialty alumina projects, various aluminum and copper downstream expansions. In Novelis, the capex will be invested chiefly in auto-finishing line expansions in the United States and China and rolling and recycling capacity expansions in Brazil. These investments will push the strategy of building a more predictable and resilient business model, Birla said. The company had recorded a net profit of Rs 2,787 crore in the quarter ended June 30, against a net loss of Rs 709 crore in the same period last year, driven mainly by the higher realisation and better contribution by Novelis. Novelis reported an all-time high quarterly earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 4,090 crore against Rs 1,919 crore due to an increase in innovative and sustainable aluminum products demand. The last 18 months have been among the toughest times for the industry with an unprecedented passage of time that has tested the corporations' and individuals' resilience. Through this unsettling period, it has been exciting to see how the Hindalco ecosystem developed and grew, he added. Birla said companies need to look beyond short-term aims to ensure sustainable growth in the fast-changing world. Image Source Also read: JSW Infrastructure aims Rs 10,000 crore capex over five years Also read: Coal India plans Rs 17,000 cr capital expenditure target in FY22

Next Story
Infrastructure Energy

REC Transfers HVDC Project to Power Grid

REC Limited has successfully handed over the Special Purpose Vehicle (SPV) for a High-Voltage Direct Current (HVDC) transmission project to Power Grid Corporation of India Limited (PGCIL). This strategic move aligns with the nation's objectives to strengthen its power transmission network. Key Highlights: Project Overview: The HVDC project, under the inter-state transmission system (ISTS) initiative, is a critical component of India's push toward robust and efficient electricity transmission. It aims to handle bulk power transfer across long distances while ensuring minimal losses. Role of RE..

Next Story
Infrastructure Transport

NF Railway Collaborates with IIT Guwahati

The Northeast Frontier (NF) Railway has signed strategic Memorandums of Understanding (MoUs) with IIT Guwahati to foster technological advancements and improve railway operations in the region. This partnership focuses on innovative solutions to enhance safety, efficiency, and sustainability in rail infrastructure. Key Highlights: Purpose of MoUs: The collaboration aims to leverage IIT Guwahati's expertise in technology and research for implementing cutting-edge solutions across railway operations. Key areas of focus include: Automation and digitization in maintenance. Sustainability initiati..

Next Story
Infrastructure Transport

Danapur Division Modernization Plans Revealed

The Railway Board has unveiled ambitious plans for the expansion and modernization of the Danapur Division, a critical hub under the East Central Railway. The initiative focuses on infrastructure development, enhanced passenger amenities, and operational efficiency. Key Highlights: Scope of Modernization: The Railway Board's blueprint emphasizes: Upgrading existing infrastructure to accommodate more passenger and freight traffic. Improving station facilities, such as platforms, waiting areas, and connectivity. Introducing advanced signal systems for safer and smoother operations. Freig..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000