Hindalco Industries Chairman Kumar Mangalam Birla on Tuesday said the company has earmarked a total capital expenditure of about $8 billion over the next five years in its arm Novelis and India.
Novelis has found potential investment opportunities of $4.5 billion. Mr. Birla was speaking at the Hindalco’s AGM.
He said the company has identified potential investment opportunities of almost $3 billion in India.
Mr. Birla further said that 70% of the company’s consolidated cash flows will be allocated towards high-growth downstream segments , including EVs, mobility, batteries and Consumer durables.
“On the back of solid financial performance and a strong balance sheet, your company is well-positioned to drive a new wave of transformational growth fuelled by organic expansion.” The company plans to achieve a renewable capacity of 300 MW by FY’25, including 100 mw solar power capacity with hybrid storage.
