Hindalco expects Utkal, Mahan projects to start by April
MUMBAI Feb 8 (Reuters) - India's Hindalco Industries expects production to start at its Utkal and Mahan plants by April, Managing Director Debu Bhattacharya told reporters after announcing December quarter results on Friday.
The aluminium and copper producer, part of the diversified Aditya Birla Group, is setting up an alumina plant at Utkal, which will feed the Mahan plant, which will manufacture aluminium.
Hindalco is in the midst of trebling aluminium capacity to 1.9 million tonnes by 2013 at a cost of about $5 billion.
Earlier on Friday, Hindalco beat estimates with quarterly net profit of 4.3 billion rupees ($80 million) for its Indian operations, down 4 percent from a year earlier. Net sales rose 3 percent to 67.9 billion rupees.. (Reporting by Prashant Mehra; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- Dallas Ebola patient vomited outside apartment on way to hospital |
- Boxer Sarita Devi faces action after refusing medal at Asian Games
- Loss of smell may be predictor of death in older adults - study
- Dallas Ebola patient vomited outside apartment on way to hospital
- U.S. Secret Service director resigns under fire
India could run out of a critical medicine in its free HIV/AIDS drugs programme in three weeks due to bureaucratic bungling, a senior government official said, leaving more than 150,000 sufferers without life-saving drugs for about a month. Full Article