| Terming the aluminium industry as the fastest growing sector among all the metals, D Bhattacharya, managing director of Hindalco Industries, said the sector had the potential to attract Rs 1 lakh crore investments.
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| This would take the total production capacity up to over 5 million tonne from the present 1.5 million tonne in next 4 years.
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| In his keynote address at the international conference on aluminium - Incal 2007- organised by the Aluminium Association of India (AAI) here on Wednesday, Bhattacharya, who is the honorary president of AAI, said, the country can position itself as the primary producer, consumer and exporter of aluminium to take advantage of its enormous bauxite reserves, low production costs and huge domestic market potential.
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| Of late, aluminium production is seen a shift from Europe and the West to Asia, which now accounts for close to 40 per cent of the global aluminium production as compared with a mere 12 per cent share in 1980. The growth in aluminium consumption is expected to register between 8 per cent and 10 per cent in the future, according to him.
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| At 5-million tonne production capacity, India would be among the top three aluminium producers in the world, he said. At present, the country ranks sixth in alumina production, eighth in aluminium production and fifth in aluminium consumption in the world.
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| The electricity sector, which requires over 40 per cent of aluminium, continues to lead in terms of domestic consumption. However, certain new areas besides other sectors like automobiles and construction are expected to boost the country's domestic aluminium consumption.
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| While stating that almost all the major players in the aluminium industry in the country, including Nalco, Balco and Vedanta, have been ramping up their capacities, he said his company had planned a Rs 26,000-crore capital expansion to increase the capacity to 1.6 million tonne by 20011-12 from the present 0.5 million tonne. |
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