Business | Wed Jan 16, 2013 4:41pm IST

Hindalco Odisha refinery start delayed to March

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)

Top India News

Reuters Showcase

Auto Sector

Auto Sector

Ford aims to triple exports from India with $1 billion plant  Full Article 

Micromax Stake

Micromax Stake

SoftBank-led group in talks to buy stake in Micromax - sources  Full Article 

Airwaves Auction

Airwaves Auction

Top three mobile operators spend $13.6 bln in airwaves auction  Full Article 

Insurance Sector

Insurance Sector

Australia's IAG to up stake in joint venture with SBI  Full Article 

Accenture Results

Accenture Results

Accenture raises revenue growth forecast for second time  Full Article 

GAIL's Plans

GAIL's Plans

GAIL seeking 7 LNG cargoes from Oct. 2015-Dec. 2016 - tender document.  Full Article 

Eyeing Pininfarina

Eyeing Pininfarina

Pininfarina confirms Mahindra interest, says no deal yet  Full Article 

SH Kelkar IPO

SH Kelkar IPO

SH Kelkar files prospectus for IPO, seen at around $100 mln  Full Article 

Australia Beat India

Australia Beat India

Smith shines as Australia down India to reach final  Full Article 

Reuters India Mobile

Reuters India Mobile

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

X