Hindalco Industries is reportedly planning to invest Rs 1,000 crore in downstream expansion to increase the contribution of aluminium and copper value added products in overall sales.
Moreover, the company has secured an enabling resolution to raise up to Rs 5,000 crore through qualified institutional placement (QIP) to pre-pay loans and embark on downstream expansion.
As of the December quarter, the company has consolidated debt, including that of its American subsidiary Novelis Inc, of Rs 67,248 crore spread over five years.
Hindalco Industries is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.