Aditya Birla Group’s Hindalco Industries has signed a memorandum of understanding (MoU) with the Gujarat government to setup India’s biggest aluminium extrusion and aluminium recycling plants in the state. The company will invests about Rs 3,500 crore in this project. The MoU was signed between principal secretary for industries Manoj Kumar Das and Hindalco Industries managing director Satish Pai on Friday at Gandhinagar. Gujarat chief minister Vijay Rupani was also present on the occasion. “The aluminium extrusion plant of 1.50 lakh tonne annual capacity will entail an investment of Rs 2,000 crore in two phases. Hindalco will invests about Rs 1,500 crore for aluminium recycling plant with an annual capacity of 3 lakh tonne,” said the state government in a statement.
According to the government official, the plants likely to come-up in Kutch area and it will provide direct and indirect employment to 3,000 people. The chief minister discussed the possibility of setting up a desalination plant to fulfill the water requirements of the aluminium plants on the public-private partnership (PPP) model. He also gave an idea of the state government’s incentive policies to make Gujarat a land of opportunities for investors.
Source: Financial Express