Hindalco to invest ₹2K cr in railway project
Hindalco Industries Ltd has plans for a partnership with the railways and will invest about ₹2,000 crore to bring new extrusion and fabrication technologies to India, Kumar Mangalam Birla, chairman, Hindalco, 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 ₹2,000 crore is planned for the project and technology tie-ups are in place to bring new extrusion and fabrication technologies to India," he said. Hindalco is going all out to support the railways’ goals of becoming net zero, while doubling freight capacity.
“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 said. Birla said the company is making another ₹2,000 crore investment to establish a first-of-its-kind copper and e-waste recycling facility.
“At present, due to 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 to offering a tangible solution, aligned with your company and our nation’s circular economy agenda," he said.
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 such as battery enclosures, motor housings, busbars, structural and safety components, and lightweight load bodies. “Our projects for battery foils, coated aluminium fins, aerospace grade extrusions are also
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