India: Hindalco seeks funding for Odisha smelter
Hindalco Industries, part of the Aditya Birla Group, is in the process of seeking funding for its biggest greenfield aluminium project in the east coast state of Odisha in India.
The company had planned to build a 0.36Mt aluminium smelter alongside a 1Mt alumina refinery, but is now planning a 0.72Mt smelter in direct competition with rival Vedanta Aluminium.
Vedanta operates a 0.5Mt smelter and a 1Mt alumina refinery in the region.
Hindalco’s strategy is to dominate the primary aluminium industry through its Indian operations.