Aditya Birla Group’s flagship Hindalco Industries Ltd. on Monday said that it will be investing in a 34,000-tonne extrusion plant at Silvassa worth Rs 730 crore.
“We are seeing a revival in the economy, with demand picking in the building and construction and automotive sectors. This has given us the confidence to move forward,” Satish Pai, MD, Hindalco Industries said in a media statement.
The new plant will serve the demand for extruded aluminium products in the western and southern regions of the domestic market. It has three extrusion presses which will enable the company to service premium customers in the building & construction, electrical & consumer, auto & transport and industrial goods sectors. The commercial production at the fully automated plant is expected to start in 24 months.
According to the company, India’s aluminium extrusion market is expected to grow exponentially from the current levels of around 373,000 tonnes to 850,000 tonnes by 2030. The western and southern regions accounts for 60 per cent of the total aluminium extrusion market.