Unit at Silvassa to go dwell in 24 months.
Hindalco Industries Ltd., belonging to the Aditya Birla Group, has introduced plans to arrange a 34,000-tonne extrusion plant at Silvassa with an funding of ₹730 crore. The new plant will service the marketplace for extruded aluminium merchandise in the western and southern areas, the corporate stated in an announcement.
“The project in Silvassa signals a big step forward in Hindalco’s downstream strategy as the company revives its long-term downstream investment plan, it said. The company plans to build a larger value-added product portfolio over the next few years and this investment indicated confidence in the economic revival, which in turn would help raise demand for downstream products, it said. Commercial production is expected to start in 24 months. Satish Pai, MD, said, “We are seeing a revival in the economy, with demand picking up in the construction and auto sectors. This has given us confidence to move forward.”