Hindalco proposes investment of over Rs 25K crore in Odisha

Managing director of Hindalco Satish Pai met Chief Minister Mohan Charan Majhi and briefed him about the activities of the company in the state and future investment plans.
CM Mohan Charan Majhi being greeted by Hindalco MD Satish Pai in Bhubaneswar on Thursday
CM Mohan Charan Majhi being greeted by Hindalco MD Satish Pai in Bhubaneswar on ThursdayPhoto | Express

BHUBANESWAR: Hindalco Industries Ltd has planned to invest over Rs 25,000 crore in various upcoming industrial projects in Odisha.

Managing director of Hindalco Satish Pai met Chief Minister Mohan Charan Majhi in Bhubaneswar on Thursday and briefed him about the activities of the company in the state and future investment plans.

Pai apprised the chief minister that the company has, so far, made an investment of over Rs 30,000 crore in various industrial units operational in the state and there are plans to invest over Rs 25,000 crore more.

As proposed, the three MTPA Aditya alumina refineries of Hindalco at Kanshariguda in Rayagada district will have an investment of Rs 8,000 crore. The expansion plan would have a significant impact on the economic development of Rayagada and Koraput region. The second apparel manufacturing unit of Aditya Birla is also coming up near the refinery plant which would generate local employment for over 3,000 women.

The Hindalco MD further informed that the company is setting up a flat rolled products (FRP) projects at Lapanga in Sambalpur district with an investment of over Rs 5,000 crore. Nearly 80 per cent of the project work has been completed and it is likely to be commissioned by January next year.

Once commissioned, the production capacity of fine quality aluminium foil will increase manifold. The foil is used in rechargeable batteries to serve the rapidly growing market for electric vehicles (EVs) and energy storage systems. It will initially produce 25,000 tonne of the resilient product which forms the backbone of lithium-ion and sodium-ion cells.

Hindalco also plans a 1,000 MW floating solar project at Hirakud which would have an investment of around Rs 6,000 crore. In addition, the company has also decided for the expansion of its aluminium smelter at Lapanga at a cost of about Rs 7,000 crore.

The chief minister assured all necessary government support for the proposed projects and stressed on employment of local community members. Pai also met Industries Minister Sampad Charan Swain at Loka Seva Bhavan, the state secretariat and discussed Hindalco’s industrial and CSR activities in Odisha.

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