+
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

Bihar Launches Rs 53.4 Billion Green Energy Plan

The Bihar government has taken a major stride towards clean energy with the launch of two new policies and the signing of agreements totalling Rs 53.4 billion. These initiatives aim to generate 2,357 megawatts (MW) of renewable energy through solar, wind, battery storage, and other sustainable technologies.The Bihar Renewable Energy Policy 2025 and the Pump Storage Policy 2025 were officially introduced at an event in Patna. Designed to attract significant investment, the policies seek to position Bihar as a key centre for clean energy projects. Energy Minister Bijendra Prasad Yadav stated tha..

Next Story
Infrastructure Transport

Bids Invited for Rs 62.5 Billion Vizag Metro Project

The long-anticipated Visakhapatnam Metro Project has made significant progress, with the Andhra Pradesh Metro Rail Corporation inviting bids for the first civil contract under Phase 1 of the Vizag Metro. The estimated cost of this contract is Rs 62.5 billion.This engineering, procurement and construction (EPC) contract covers the design and construction of a 46.23 km viaduct spanning three corridors, including a 20.16 km double-decker four-lane flyover cum metro viaduct. The project also comprises 42 elevated metro stations across Visakhapatnam.Recently, SYSTRA Consultancy signed a Memorandum ..

Next Story
Real Estate

Oberoi Realty to Buy Hotel Horizon for Rs 9.19 Billion

A consortium led by Mumbai-listed Oberoi Realty Ltd is set to acquire debt-laden Hotel Horizon Pvt Ltd in Juhu, Mumbai for Rs 9.19 billion (approximately USD 107 million) under a resolution plan approved through India’s Insolvency and Bankruptcy Code (IBC).In a filing to the stock exchange, Oberoi Realty confirmed that the Committee of Creditors of Hotel Horizon had approved the resolution plan, following which a letter of intent was issued. The consortium also includes Shree Naman Developers and JM Financial Properties.As per the resolution plan, the consortium will make a payment of Rs 9.1..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?