Hindalco Industries announced an investment of INR 4,000 crore out of which INR 2,000 crore is allotted for one-of-its-kind copper and e-waste recycling plant.
Aug 23, 2023
Mr, Kumar Mangalam Birla, Chairman of Hindalco Industries, announced an overall investment of INR 4,000 crore at the company’s 64th Annual General Meeting (AGM). The overall investment can be identified in two parts; INR 2,000 crore will go towards the development of a new extrusion facility for freight wagons and coaches prestigious Vande Bharat trains, and INR 2,000 crore for setting up one-of-its-kind copper and e-waste recycling plant in India.
M. Birla stated, “I am delighted to announce that your company is making an investment of Rs 2,000 crore to establish the first of its kind copper and e-waste recycling facility in India. This move addresses the mounting challenge posed by e-waste, recognized as the foremost waste stream on a global scale. We are even more excited to partner with Indian railways and the passenger coach manufacturing ecosystem for the ambitious high-speed Vande Bharat trains. An investment of Rs 2,000 crore is planned for the project and technology tie-ups are in place to bring new extrusion and fabrication technologies to India.”
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Hindalco Industries has already commercialized the country’s first all-aluminum lightweight rake, enabling higher speed with more payload. The company plans to introduce three more designs of freight wagons in upcoming months targeting specific end-use applications, including bagged cement, and foodgrains.
The hazardous nature of E-waste is compounded by improper handling leading to a significant loss of valuable materials. Mr. Birla shared that due to a lack of advanced metal extraction and refining technologies domestically, a substantial volume of e-waste is exported to other nations. In fiscal 2023, Novelis, Hindalo’s Atlanta-based subsidiary, recycled 2.3 million tonnes of aluminum scrap and increased the recycled content in its products to 61 percent from 57 percent in FY22. At Hindalco, 90 percent of its waste is being utilized across sites in India. In fiscal 2023, the company utilized over 100 percent of fly ash, and the bauxite residue from three of its four alumina refineries.
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Hindalco’s renewable energy integration has increased by over 54 percent in FY23 and currently stands at 150 MW against the 300 MW target by 2025.
Additionally, Hindalco is closely working with original equipment manufacturers (OEMs) to co-develop and manufacture critical components, like battery enclosures, and motor housings, in light of the scaling-up of EV manufacturing in India. Mr. Birla shared that the projects for battery foils, coated aluminum fins, and aerospace-grade extrusions are also on track.
