Over the next five years, Hindalco Industries Ltd. plans to invest up to $7.2 billion in expanding its aluminium manufacturing operations, as global supply bottlenecks and strong demand expectations push prices to new heights. The company will use the funds to expand its operations in India and North America. In an investor presentation, it stated that it had set aside $2.4 billion for its Indian aluminium operations over the next five years, with consumption expected to triple in the next decade. During that time, Novelis Inc. will invest up to $4.8 billion in the United States, Brazil, Asia, and Germany, including some previously announced expansions. Aluminum, which is used in everything from window frames to cans to vehicle parts, hit a new high above $4,000 per tonne earlier this month amid fears of a worsening shortage as a result of Russia’s war in Ukraine. The Mumbai-based firm is increasing its primary aluminium capacity in India after maintaining it at 1.3 million tonnes for the past four years, predicting that prices will remain high due to supply restrictions and high demand.
