Hindalco Industries invests Rs 3,500 crore in Gujarat’s Kutch; signs MoU state govt to set up aluminum recycling plants

Gandhinagar, September 15: Favourable trade and business conditions have made Gujarat an “Industry-hub”. Notably, Hindalco Industries is all set to invest over Rs 3,500 crore in Gujarat’s Kutch.

 

On Friday, Hindalco Industries and the state government has signed a Memorandum of Understanding (MoU) for setting up of the country's biggest aluminum extrusion and aluminum recycling plants in Kutch. The aluminum recycling plants will be setup at a cost of Rs 3,500 crore.

The MoUs were signed by industries secretary MK Das and Hindalco's managing director, Satish Pai in the presence of Gujarat Chief Minister Vijay Rupani. Meanwhile, Gujarat CM Vijay Rupani also held discussions with the senior officials of Hindalco Industries on setting up a desalination plant, to meet the two plants' water requirement, on a PPP model with the state government.

In a communiqué, the state government said that the Aditya Birla Group will invest Rs 2,000 crore in two phases for setting up the 1.50 lakh tonne per annum aluminum extrusion plant. “The 3 lakh TPA aluminum recycling plant will be set up in three phases with an investment of Rs 1,500 crore. The two plants will create 3,000 direct employment opportunities," the communique read.

In another development, Gulf Petrochem Group, which operates in the downstream and midstream sectors in oil and energy sector, has submitted an Expression of Interest for setting up a bitumen refinery in the state with an investment of $500 million or approximately Rs 3,600 crore.