Hindalco plans Rs 2000 crore capital expenditure for FY20

The alumina refinery is being ramped up to three million tonnes per annum. The expansion is slated to be completed by FY21 and is estimated to cost around Rs 5000 crore

Aditya Birla Group controlled entity Hindalco Industries with interests in aluminium and copper, is looking at a Capex (Capital expenditure) of around Rs 2000 crore for the next fiscal. Most of the envisaged expenditure will be on ramping up the capacity of the Utkal alumina refinery near Rayagada (Odisha).

“So this year's Capex has been around Rs 1,300 crores, whereas next year's will be around Rs 2,000 crores. So, the first use of the cash will actually go towards that growth Capex.  We will only repay more after we have done our growth Capex projects’’, Satish Pai, managing director, Hindalco Industries