Consumer Durables News

Hindalco earmarks about $8 billion capex over next 5 years

Chairman Kumar Mangalam Birla on Tuesday said the company has earmarked a total capital expenditure of about USD 8 billion over the next five years in its arm Novelis and India. Novelis has found potential investment opportunities of USD 4.5 billion. Birla was speaking at the Hindalco’s AGM.

He said the company has identified potential investment opportunities of nearly USD 3 billion in India.

Birla further said that 70 per cent of the company’s consolidated cash flows will be allocated towards high-growth downstream segments , including EVs, mobility, batteries and Consumer durables.

“On the back of solid financial performance and a strong balance sheet, your company is well-positioned to drive a new wave of transformational growth fuelled by organic expansion.”

The company plans to achieve a renewable capacity of 300 MW by FY’25, including 100 mw solar power capacity with hybrid storage.

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