Hindalco draws up Rs 16,000 cr capex plan

Hindalco Industries, an integrated producer of aluminum and a leading copper manufacturer has drawn up a Rs 16,000 crore capex plan for the next two years, a top company official said.

"We have drawn up a Rs 5,623 crore capital expenditure plan, which includes Rs 4,560 crore for greenfield projects and Rs 1,063 crore for other projects in FY 10," Hindalco's Chairman Kumar Mangalam Birla said at the company's AGM here.

"We plan to invest Rs 10,458 crore in FY11, of which Rs 8,406 crore will go into greenfield projects and Rs 2,052 crore into other projects," Birla said.

The company plans to increase its production in the current year.

"Unlike several players across the world who are uncompetitive and not able to operate at profit at current levels of LME and reducing capacities, we are actually working to increase capacity," Birla said.

Birla pointed out that the total production of alumina is expected to touch 6 million tonnes and aluminium to 1.5 MT by FY 13, which is a substantial jump from the current level of production.

The copper production is expected to touch 3,50,000 tonnes this year and company sees strong growth for copper in the coming years.