Hindalco Industries Limited has officially inked a Memorandum of Understanding (MoU) with Odisha Mining Corporation for long-term bauxite supply. This agreement marks the commencement of a sustainable partnership set to strengthen Hindalco's vision of excellence in the aluminium industry.
Hindalco Industries, a powerhouse in aluminium production, unveiled its strategic plan to establish a cutting-edge 2 million-tonne alumina refinery and a state-of-the-art 150-MW power plant at Kansariguda in the Rayagada District.
The heart of this collaboration lies in the long-term supply of bauxite ore, the lifeblood of aluminium production. Odisha Mining Corporation, renowned for its commitment to excellence, will play a pivotal role in fuelling Hindalco's ambitious venture. This MoU, a testament to their shared dedication, was formally announced through an exchange filing, further underscoring its significance.
This project is poised to mark Hindalco Industries' second foray into alumina refining within the hallowed grounds of the Rayagada district of Odisha. It symbolizes growth and the unwavering commitment to shaping the future of the aluminium industry.
The endeavour is matched by the ambitious investment it commands, with a total proposed investment of a staggering INR 8,000 crore to be injected in two meticulously planned phases. The initial phase, targeting a capacity of 1 million tonnes, is set to be commissioned in the fiscal year 2027. This phase alone commands an investment of INR 5,500 crore.
This development is a testament to Hindalco Industries' unwavering dedication to innovation, sustainability and its pivotal role in shaping the industrial landscape.
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