Hindalco to spend $4-5 bn on upstream expansion
Hindalco Industries will spend $4 — $5 billion on capital expenditure over a period of three years to expand its upstream facilities for aluminium and copper, the company said on Monday.
These include an aluminium smelter, alumina refinery, a copper smelter and a copper recycling plant, managing director Satish Pai said on a call post the earnings.
The metal flagship company of the Aditya Birla group announced its earnings for the September quarter late on Monday, and its consolidated net profit jumped 78% on year to ₹3,909 crore helped by strong traction in its India business.
«Our India business delivered a strong operational performance in Q2 bolstered by our relentless focus on operational reliability and cost management,» Pai said. «Consequently, our aluminium India upstream business reported an Ebitda per tonne of $1,349 — the highest in the last 10 quarters and the best-in-industry globally,» he said.
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