Hindalco Industries Limited on Thursday announced that it will be entering into a Memorandum of Understanding (MoU) with Odisha Mining Corporation for the long-term supply of Bauxite ore for its proposed 2-million tonne alumina refinery and 150-MW captive power plant at Kansariguda in the Rayagada District, the company announced through exchange filing.
This will be the Company’s second alumina refining facility in the Rayagada district of Odisha.
The total proposed investment of Rs 8,000 crore shall be in two phases. The first phase of 1 million tonne is expected to be commissioned in FY27, at an investment of Rs 5,500 crore.
Hindalco Industries Limited shares
The shares of Hindalco Industries Limited on Thursday were trading at Rs 472.50, down by 0.19 percent.