Hindalco Industries To Invest Rs 2,450 Crore In Gujarat Copper Projects

Having made a name for itself in the global copper and aluminum industries, Hindalco Industries Limited is a major force in both home and foreign markets. The company has managed to hold its position as a major player in the industry thanks to its dedication to innovation, sustainability, and customer satisfaction. Hindalco Industries Limited is a company that keeps growing in the market thanks to its wide range of goods and services. The organization has maintained an advantage over competitors and adjusted to shifting market conditions thanks to its strategic investments in R&D, technology, and infrastructure. 

Investment of Rs. 2450 crore by Hindalco Copper Division:

The copper division of Hindalco has declared that it will invest a total of Rs. 2,450 crore in two significant copper projects located in Gujarat. One of the projects is the construction of an e-waste recycling facility in Dahej. By producing 200 kilotonnes of copper a year, the facility will significantly improve India’s recycling capacities.

The Copper Business CEO of Hindalco, Rohit Pathak, said:

India’s first copper and e-waste recycling plant is being built at Dahej, according to Rohit Pathak, CEO of Hindalco’s Copper Business, who made this announcement at the 4th Global RE-Invest summit in Gandhinagar. We want to recover about 50 kilotonnes of copper in Phase 1, and our project’s overall goal is 200 kilotonnes. Every year, the facility will process 300–350 kilotonnes of scrap and e-waste.”

Phase 1 investment of Rs. 2000 crore:

In the upcoming years, the project’s investment is expected to be quadrupled from its Rs. 2,000 crore initial phase. In addition to producing precious metals like gold and silver, the recycling facility will lessen the company’s dependency on imported copper concentrates. At the moment, Hindalco imports roughly 1.3 million metric tons of copper concentrates for its Dahej smelter facility. In addition to the recycling plant, Pathak highlighted Hindalco’s plans to expand its copper smelting capacity in Dahej, already one of the largest copper smelting complexes globally. The company will add 250-280 kilotonnes of capacity to meet India’s growing demand for copper, increasing production by 50-60%.

Hindalco’s manufacturing unit in Vadodara:

In addition, Hindalco is building a Rs. 450 crore copper tube manufacturing facility in Vadodara, which will generate copper tubes for refrigeration and air conditioning systems. The Waghodia plant will need to invest an additional Rs. 1,500 crore to expand its capacity from 25,000 metric tons to 75,000 metric tons. Hindalco has begun manufacturing unique copper-silver and copper-magnesium alloys, which are necessary for high tensile strength and improved conductivity in railway systems, to support India’s ambitions for high-speed rail.

Hindalco enters in the solar industry:

The goal of Hindalco Industries, a division of the Aditya Birla Group, is to establish a plant in Gujarat to begin producing solar modules. The business has located land in Mundra and is investigating a five-year plan. This represents Hindalco’s first step into the green energy space, subject to board clearance and final capital investment choices.

Hindalco Industries Ltd. stock is down 1%:

Hindalco Industries Ltd. stock is trading right now at Rs. 675.65 per share, which is 1% down in intraday.

Conclusion: Hindalco’s commitment to supporting India’s infrastructure and manufacturing capabilities while simultaneously advancing sustainable practices through sophisticated e-waste recycling is reflected in this investment in copper production and recycling.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.