Hindalco invests Rs 730 cr in 34,000 tonne extrusion facility at Silvassa

Company aims to invest Rs 7,000 crore in downstream segment over next few years

Hindalco Industries Limited on Monday announced that it plans to invest Rs 730 crore to set up a 34,000-tonne extrusion plant at Silvassa.
 

The new plant will service the fast-growing market for extruded aluminium products in the western and southern regions, the Aditya Birla Group company said in a release.
 

The Silvassa project is a step towards Hindalco’s downstream strategy as the company revives its long-term downstream investment plan.
 

The company’s intent is to build a larger value-added product portfolio over the next few years, it said.
 

This investment indicates confidence in the economic revival, which in turn will grow