Hindalco doubling down on upstream capacities with substantial investments in aluminium, copper smelting
upstream capacities
through substantial investments in aluminium and
copper smelting
in India, its Chairman
Kumar Mangalam Birla
said on Thursday.
Speaking during the 66th Annual General Meeting of
Hindalco Industries Ltd
, the chairman said the "company's strategy is to strengthen both its upstream and downstream businesses, with the next phase focused on accelerated upstream expansion alongside continued downstream growth".
In the context of metal business, the process of extracting raw element from ore is termed as upstream while downstream refers to production of final output after value addition.
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The company is expanding its
Aditya Aluminium smelter
in Odisha by 180,000-tonnes per annum and planning a further 360,000-tonne expansion at
Mahan aluminium smelter
in Madhya Pradesh.
"In addition, we are also investing in a greenfield 850,000-tonne
alumina refinery
," he said .
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Besides, the company's resource security has been further strengthened with the allocation of the 12-million-tonne Meenakshi coal mine, he said, adding that this will enhance energy self-sufficiency and reinforce Hindalco's position as the world's lowest-cost aluminium producer by reducing reliance on auction and linkage coal.
In copper, a 300,000-tonne smelter expansion is underway at Dahej, which, once completed, will make it the largest copper smelting complex in the world, outside China.
On the downstream front, the company is enhancing its portfolio of value-added products in aluminium, copper, specialty alumina, and recycling, with a clear target to quadruple downstream EBITDA (earnings before interest, taxes, depreciation and amortisation) by FY30 from the FY24 base.
"Our new copper tubes plant is ramping up, and construction is in full swing for India's first and the world's second-largest dedicated e-waste and
copper recycling facility
at Pakhajan," he explained.
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