India’s Aluminium Firms Register Protest Against Odisha’s Massive Hike in Power Duty

India’s Aluminium Firms Register Protest Against Odisha’s Massive Hike in Power Duty

Indian aluminium giants National Aluminium Company Limited (Nalco), Vedanta Resources plc, and Hindalco Industries Ltd. have joined in a petition to the state government of Odisha seeking revocation of a recent gargantuan hike in the state’s power duty that they say has...


Kobelco to Partner with Novelis in Expansion of Aluminium Operations

Japan’s Kobe Steel, Ltd. is rumored to soon announce a multi-million-dollar partnership with Atlanta’s Novelis Inc. to build an aluminium plant to supply the latter’s processing plants abroad. The Nikkei Asian Review reported yesterday that Kobelco could announce the US$263-million to US$350-million new aluminium plant as early as tomorrow. The proposed plant will be built […]

Hindalco Raises US$500 MM via Stock Offering

Two-and-a-half years after a tepid reaction from investors to a similar opportunity, a qualified institutional placement (QIP) launched on Friday netted Hindalco US$500 million over the weekend. The QIP, which was India’s first metal sector share sale using the method, was also the country’s largest non-bank QIP since 2015. Foreign investors including Fidelity, Halbis, Blackrock, […]

Hindalco to Invest Up To US$105 MM on Debottlnecking Utkal Refinery

Mumbai’s aluminium manufacturing firm Hindalco Industries Ltd. plans to invest INR5 billion to INR7 billion (US$75 million to US$105 million) in a debottlenecking project at its Utkal alumina refinery. “Yes, we are already working on, let say the engineering designs for that de-bottlenecking. I will just leave at that because, I think in 2017-18 we […]

Vertical Integration Gives Hindalco an Edge Against Input Costs: Satish Pai

The aluminium market in India is on the rebound, and it couldn’t have come at a better time for Hindalco Industries Ltd. So said the firm’s managing director Satish Pai in an interview published by a domestic newspaper on Wednesday. Pai indicated that he expected aluminium prices to stay in a somewhat narrow range over […]

Hindalco’s Third-Quarter Results Boosted by Strong Aluminium Sector

Mumbai’s Hindalco Industries Ltd. reported unaudited, standalone results for the third quarter of its fiscal year 2017 on Monday. The quarter’s results were buoyed by a strong showing in its aluminium operations. For the quarter ending December 31, Hindalco earned ₹99.1 billion from all operations, up year-on-year from last year’s third-quarter total of ₹87.2 billion, […]