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

Economic Pulse

REUTERS SHOWCASE

NSEL Fraud

NSEL Fraud

Govt orders Financial Tech to absorb NSEL, liabilities  Full Article 

Stalemate

Stalemate

WTO prepares for crisis talks as India keeps veto on global deal.  Full Article 

Deal Talk

Deal Talk

Smartphone repair company B2X steps up expansion with Indian deal.  Full Article 

Earnings Season

Earnings Season

HDFC Bank eyes pickup in corporate credit.  Full Article 

JLR China

JLR China

JLR sees 20 percent growth in China sales this year - exec  Full Article 

Iron Ore Imports

Iron Ore Imports

JSW Steel to boost iron ore imports by up to 80 percent.  Full Article 

Pollution Levels

Pollution Levels

Delhi braces for worst air quality this Diwali week.  Full Article 

Remembering Margerie

Remembering Margerie

Total’s "Big Moustache"- bon vivant, deal-maker and risk-taker .  Full Article 

Reuters India Mobile

Reuters India Mobile

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