Hindalco to buy Pennar assets

Hindalco will buy the aluminium rolling and conductor rod assets of Pennar Aluminium from Asset Reconstruction Company (Arcil).

According to a release issued by Hindalco to the BSE today, Arcil has accepted its offer for the purchase of assets situated at Nagpur, Maharashtra.

"The installed capacity for aluminium rolled products is 30,000 tonne per annum and conductor rods is 14,400 tonne per annum. The residual life is estimated to be more than 10 years," the release added.