It is reported that Indian nonferrous metals firm Hindalco Industries plans capital expenditures of INR 21,000 crores.

Mr Kumar Mangalam Birla chairman of Hindalco told shareholders at the company's annual general meeting that “We plan to invest INR 10,000-crore in 2010-11 and INR 11,000-crore in 2011-12 on account of our ongoing expansion program, which should be commissioned between 2012 and 2014.”

Elaborating on the expansion plans of its Greenfield projects, Mr Birla said the company planned to invest INR 9,200 crore in its Mahan aluminium project in Madhya Pradesh, which would have a capacity of 360,000 tonnes annually of aluminium metal, along with a 900 MW captive power plant.

Hindalco is also setting up the INR 9,200 crore Aditya aluminium project with a capacity of 360,000 tonnes annually of aluminium metal. Its Utkal alumina project, costing INR 7,000 crore, would produce 1.5 million tonnes of alumina to start with, which could be increased to 3 million tonnes in the future.

He told “The equity requirement for the Utkal project had been tied up as well. The timely execution of Greenfield projects would enhance our cost competitiveness and give Hindalco a distinct global competitive edge.”

(Sourced from PTI)