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Hindalco pens MoU with Odisha Mining Corporation for bauxite supply

Oct 5, 2023

By: BlinkX Research Team

Hindalco Industries Limited has announced a significant move in its expansion plans. The company is set to enter into a Memorandum of Understanding (MoU) with Odisha Mining Corporation for the long-term supply of Bauxite ore. This strategic partnership will cater to Hindalco's proposed 2-million tonne alumina refinery and 150-MW captive power plant located in Kansariguda, Rayagada District.

The company is embarking on a substantial expansion project, marked by an estimated investment of ₹8,000 crore. The project will be executed in two phases, with the first phase involving an investment of ₹5,500 crore.

The refinery, slated to have a capacity of 2 million tonnes, will strengthen Hindalco's presence in the Rayagada district of Odisha, where the company already operates another alumina refining facility.

The MoU with Odisha Mining Corporation secures a consistent and long-term supply of Bauxite ore, a crucial raw material for alumina production. This move ensures a reliable source of resources for Hindalco's expansion plans.