Hindalco plans Rs 7,700cr unit in MP

Hindalco has entered into an MoU with the government of Madhya Pradesh for a Rs 7,700 crore aluminium smelter in Siddhi district.

According to a release issued by Hindalco to the BSE today, the MoU was signed by O P Rawat, principal secretary (commerce, industry and employment) of MP government and D Bhattacharya,managing director of the company.

"The MoU with the government of Madhya Pradesh marks yet another milestone in our goal of making Hindalco a non-ferrous metals powerhouse. In aluminium, the vision of our chairman Kumar Mangalam Birla is to be among the top 10 global players. This new greenfield aluminium project is a forward move in this regard," Bhattacharya said.

The aluminium smelter in Siddhi, with an investment of Rs 7,700 crore, is expected to create 4,000-5,000 new jobs and generate another 12,000 jobs indirectly, the release added.