This strategic move will include INR 850 crore battery foil unit and a flat-rolled products plant in Odisha, along with an extrusion facility in Silvassa, the sources said. The company is also exploring additional opportunities in auto component manufacturing, with Gujarat emerging as a potential hub for its next growth phase.
Last month, the Aditya Birla Group reaffirmed its plan to invest INR 45,000 crore over the next few years across its aluminium, copper, and speciality alumina businesses. CEO Satish Pai told ET that Hindalco is targeting its downstream operations to contribute 30-40 per cent of its earnings before interest, tax, depreciation, and amortisation (EBITDA) within three to four years.
"Of the 45,000 crore (rupees), for the EVs, I would say the share of that would be roughly in the region of 10% or thereabouts," said one of the sources.
