Hindalco Odisha refinery start delayed to March

BHUBANESWAR Wed Jan 16, 2013 4:41pm IST

Related Topics

Stocks

   

BHUBANESWAR (Reuters) - Non-ferrous metals producer Hindalco Industries (HALC.NS) plans to start its 1.5 million tonnes per annum (mtpa) alumina refinery in Odisha by the end of March 2013, a company official said on Wednesday.

The plant, in Odisha's Rayagada district, was scheduled to start operations in January, but has been delayed due to slow progress of project work.

"We hope to commission the plant by end of March," S.K Mishra, a senior advisor at Utkal Alumina International Ltd (UAIL), a wholly-owned unit of Hindalco, told Reuters.

Hindalco's bauxite mining in the state, which was scheduled to start in October 2012, has also been delayed and may start by the end of this month, Mishra said.

The company initially aims to mine 4.3 to 4.4 mtpa of bauxite for the refinery, though it has permission to mine 8.5 million tonnes.

Hindalco, part of the Aditya Birla Group, is in the midst of trebling aluminium capacity to 1.9 million tonnes by 2013 at a cost of about $5 billion. Its U.S.-based subsidiary Novelis is the world's largest producer of rolled aluminium products.

On Wednesday, Hindalco shares closed 4.4 percent lower at 123.40 rupees in a Mumbai market that fell nearly one percent.

(Reporting by Jatindra Dash; Editing by Jijo Jacob)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Market Eye

REUTERS SHOWCASE

Segway in India

Segway in India

Segway’s India business pegs hope on tech-savvy Modi  Full Article 

Cipla Shares

Cipla Shares

Cipla jumps after key generic launch.  Full Article 

Modi in Japan

Modi in Japan

Japan and India agree to boost strategic ties at summit.  Full Article 

Basel III Norms

Basel III Norms

RBI amends Basel III guidelines for banks.  Full Article 

Antitrust Probes

Antitrust Probes

U.S. business lobby says concerned China antitrust probes unfair.  Full Article 

Current Account

Current Account

Balance of payments surplus for third straight quarter.  Full Article 

Book Talk

Book Talk

Reema Abbasi and a glimpse of Pakistan’s Hindu past.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage