Hindalco to invest ₹2,000 crore to bring foreign tech for Indian Railways
₹2,000 crore to bring new extrusion and fabrication technologies to India that are critical to building Vande Bharat trains in the country, Kumar Mangalam Birla, chairman, Hindalco Industries Limited, said at the company’s 64th annual general meeting (AGM). “We are even more excited to partner Indian Railways and the passenger coach manufacturing ecosystem for the ambitious high-speed Vande Bharat trains.
An investment of Rs.2,000 crore is planned for the project and technology tie-ups are in place to bring new extrusion and fabrication technologies to India," Birla said. Citing Indian railway's goal of becoming net zero while concurrently doubling freight capacity, the company Birla said is going all out to support the railway's carbon goals.
“We plan to introduce three more designs of freight wagons in the coming months targeting specific end-use applications including bagged cement, and foodgrains," he added. Birla further announced that the company is making another ₹2,000 crore investment to establish the first-of-its-kind copper and E-wastes recycling facility.
“At present, due to a lack of advanced metal extraction and refining technologies domestically, a substantial volume of e-waste is exported to other nations. Bringing this cutting-edge technology to India marks a transformative step towards offering a tangible solution, aligned with your Company and our nation’s circular economy agenda," he added.
Hindalco will also be looking to scale up EV manufacturing in India, as the company is working closely with original equipment manufacturers (OEMs) to co-develop and manufacture critical components like battery enclosures, motor housings, busbars, structural and safety components, lightweight load bodies, etc. “Our
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