Hindalco to invest Rs 15,000 cr in Madhya Pradesh to expand aluminium smelting capacity
Speaking to ANI, Hindalco's Managing Director Satish Pai stated, "In the next two years we will be investing about 15,000 crores just from the Hindalco side. And we will also be from the group side opening a large mine called Banda."
ANI
Feb 24, 2025 14:20 IST
Bhopal (Madhya Pradesh) [India], February 24 (ANI): Hindalco Industries, a flagship company of the Aditya Birla Group, has signed a Memorandum of Understanding (MoU) with the Madhya Pradesh government to invest Rs 15,000 crore over the next two years.
The announcement was made at the Madhya Pradesh Global Investors Summit (GIS) 2025 in Bhopal on Monday.
Speaking to ANI, Hindalco's Managing Director Satish Pai stated, "In the next two years we will be investing about 15,000 crores just from the Hindalco side. And we will also be from the group side opening a large mine called Banda."
Hindalco already has an extensive footprint in the state, with existing investments worth Rs 25,000 crore, primarily focused on its world-class aluminium smelter in Mahan, located in the Singrauli district. The new investment aims to further enhance the company's presence and boost the local economy.
Pai also highlighted the impact of global trade policies on Hindalco's operations, particularly in the United States, "Hindalco has a very large American subsidiary called Novelis. So for the consolidated Hindalco, we believe that these tariffs are neutral to positive because our American subsidiary benefits and Hindalco in India does not really export aluminium to the US. So for us, we are neutral to positive."
Apart from Hindalco, other Aditya Birla Group entities such as UltraTech Cement and Grasim's Viscose Staple Fibre (VSF) division are also working on independent projects in Madhya Pradesh, further reinforcing the group's commitment to the state's industrial growth.
The Madhya Pradesh government has welcomed Hindalco's investment, considering it a major step in strengthening the state's position as a key hub for aluminium production and industrial development. The expansion is expected to create substantial employment opportunities and drive economic growth in the region.
The GIS-2025 summit is expected to boost economic growth in Madhya Pradesh by facilitating key investments and partnerships with global players. With the participation of top industrialists, diplomatic representatives, and international trade organizations, the event is poised to strengthen Madhya Pradesh's position as a major investment hub in India. (ANI)
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