Hindalco Industries surges on plans for Battery Foil Plant in Odisha
ECONOMY & POLICY

Hindalco Industries surges on plans for Battery Foil Plant in Odisha

Hindalco Industries witnessed a surge of over 3% in its shares, reaching a 52-week high of Rs 538.50 on December 12, following the company's announcement of establishing a battery foil manufacturing facility in Odisha.

The company is set to invest up to Rs 800 crore in the new battery foil plant, slated for commissioning by July 2025. The initial production target for the plant is 25,000 tonnes of the resilient product crucial for Lithium-ion and Sodium-ion cells.

Strategically located alongside a 25 MW solar power plant, the factory can tap into additional solar energy from a 400 KV National Grid connection. This initiative aligns with the government's green agenda, aiming to reduce carbon emissions and foster sustainable growth.

Hindalco Industries' move to establish the battery foil manufacturing plant is in sync with its broader strategy to capitalise on the burgeoning electric vehicle (EV) market. The company is actively collaborating with original equipment manufacturers (OEMs) to co-develop critical components such as battery enclosures, motor housings, busbars, structural and safety components, and lightweight load bodies. Many of these components are being designed and developed for the first time in India.

Satish Pai, Managing Director of Hindalco Industries, highlighted the rising demand for battery materials driven by the optimistic outlook for the electric vehicle and grid storage sectors. Emphasising the importance of localising raw materials in strategic sectors, Pai stated that the investment in the new battery foil mill is a significant step toward building a self-reliant India.

The new plant will augment the company's manufacturing capacity for high-quality aluminum foil, essential for rechargeable batteries, to cater to the rapidly expanding market for electric vehicles (EVs) and energy storage systems.

Hindalco Industries witnessed a surge of over 3% in its shares, reaching a 52-week high of Rs 538.50 on December 12, following the company's announcement of establishing a battery foil manufacturing facility in Odisha. The company is set to invest up to Rs 800 crore in the new battery foil plant, slated for commissioning by July 2025. The initial production target for the plant is 25,000 tonnes of the resilient product crucial for Lithium-ion and Sodium-ion cells. Strategically located alongside a 25 MW solar power plant, the factory can tap into additional solar energy from a 400 KV National Grid connection. This initiative aligns with the government's green agenda, aiming to reduce carbon emissions and foster sustainable growth. Hindalco Industries' move to establish the battery foil manufacturing plant is in sync with its broader strategy to capitalise on the burgeoning electric vehicle (EV) market. The company is actively collaborating with original equipment manufacturers (OEMs) to co-develop critical components such as battery enclosures, motor housings, busbars, structural and safety components, and lightweight load bodies. Many of these components are being designed and developed for the first time in India. Satish Pai, Managing Director of Hindalco Industries, highlighted the rising demand for battery materials driven by the optimistic outlook for the electric vehicle and grid storage sectors. Emphasising the importance of localising raw materials in strategic sectors, Pai stated that the investment in the new battery foil mill is a significant step toward building a self-reliant India. The new plant will augment the company's manufacturing capacity for high-quality aluminum foil, essential for rechargeable batteries, to cater to the rapidly expanding market for electric vehicles (EVs) and energy storage systems.

Next Story
Infrastructure Urban

Govt Launches Massive Tribal Outreach Across 100,000 Villages

In a landmark move towards inclusive governance and tribal empowerment, the Government of India has launched the Dharti Aaba Janbhagidari Abhiyan, a large-scale nationwide benefit saturation campaign. The initiative aims to ensure that critical government schemes and entitlements reach every eligible tribal household across the country.Union Minister of Tribal Affairs, Shri Jual Oram, hailed the Abhiyan as a historic stride towards realising Prime Minister Narendra Modi’s Antyodaya vision — empowering the last person in the queue. He emphasised that this campaign is not just about deliveri..

Next Story
Infrastructure Urban

Top PMO Official Reviews Dholera, Lothal Mega Projects

Dr P. K. Mishra, Principal Secretary to the Prime Minister, conducted an extensive review of major infrastructure and heritage projects in Dholera and Lothal, Gujarat, reinforcing the government’s push for industrial and economic transformation aligned with Prime Minister Narendra Modi’s vision.Dr Mishra visited the Ahmedabad–Dholera Greenfield Expressway, currently under construction by the National Highways Authority of India (NHAI). He underlined the importance of the expressway in reducing travel time between Ahmedabad and Dholera to just 45 minutes and urged adherence to global cons..

Next Story
Infrastructure Urban

India, Cyprus Agree on Strategic Road Map, Security Ties

Prime Minister Narendra Modi held formal talks with the President of the Republic of Cyprus, Nikos Christodoulides, at the Presidential Palace in Nicosia. President Christodoulides personally welcomed Prime Minister Modi at the airport a day earlier, highlighting the deep mutual respect and enduring friendship between the two nations.During the meeting, the leaders reaffirmed their shared democratic values and mutual respect for sovereignty and territorial integrity. Prime Minister Modi expressed gratitude to Cyprus for its strong condemnation of the April 2025 terrorist attack in Pahalgam and..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?