Hindalco Industries earmarks capex growth of $2.5-$3 billion over 5 years

In a bid to strengthen its balance sheet, Hindalco Industries has earmarked growth capex of $2.5-$3 billion on a consolidated basis over the next five years, chairman Kumar Mangalam Birla said today.

He was speaking at Hindalco Industries’ 62nd annual general meeting held via virtual platform.

Part of the capex will be deployed towards Novelis’ business regions in auto-finishing lines expansion in the US and China and rolling and recycling capacity expansion in Brazil.

In the domestic market, the company is already on track to implement organic growth projects of over $1 billion towards Utkal alumina expansion and various downstream