Hindalco plans Rs 4,000 crore investment in extrusion, copper and e-waste recycling facilities

New Delhi: Hindalco Industries has planned a total investment of Rs 4,000 crore in an extrusion facility for freight wagons and coaches and a copper and e-waste recycling plant, its Chairman Kumar Mangalam Birla said on Tuesday.

The company has planned a Rs 2,000-crore investment to set up a new extrusion facility for the development of freight wagons, and coaches of prestigious Vande Bharat trains, Birla said at the company's 64th Annual General Meeting (AGM).

The company will also make an investment of Rs 2,000 crore to establish a copper and e-waste recycling facility in India, he said.

Hindalco Industries has already commercialised the country's first all-aluminium lightweight rake which enables higher speed with more payload. The company plans to introduce three more designs of freight wagons in the coming months targeting specific end-use applications, including bagged cement, and foodgrains.

"We are even more excited to partner with Indian railways and the passenger coach manufacturing ecosystem for the ambitious high-speed Vande Bharat trains. An investment of Rs 2,000 crore is planned for the project and technology tie-ups are in place to bring new extrusion and fabrication technologies to India," Birla said.

With the scaling up of EV manufacturing in India, he said Hindalco is working closely with OEMs (original equipment manufacturers) to co-develop and manufacture critical components like battery enclosures, motor housings, using his company's facilities.

The projects for battery foils, coated aluminium fins, and aerospace-grade extrusions are also on track, he added.

"I am delighted to announce that your company is making an investment of Rs 2,000 crore to establish the first of its kind copper and e-waste recycling facility in India. This move addresses the mounting challenge posed by e-waste, recognized as the foremost waste stream on a global scale," Birla said.

The hazardous nature of E-waste is compounded by improper handling leading to a significant loss of valuable materials, he said adding at present, due to a lack of advanced metal extraction and refining technologies domestically, a substantial volume of e-waste is exported to other nations.

According to Birla, in fiscal 2023, Novelis, Hindalo's Atlanta-based subsidiary, recycled 2.3 million tonnes of aluminium scrap and increased the recycled content in its products to 61 percent (up from 57 percent in FY22).

At Hindalco, 90 percent of its waste is being utilised across sites in India. In fiscal 2023, the company utilised over 100 per cent of fly ash, and the bauxite residue from three of its four alumina refineries, he said.

Hindalco's renewable energy integration has increased by over 54 percent in FY23 and currently stands at 150 MW against 300 MW target by 2025, Birla said.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)