Hindalco to spend $10 bln to expand India business and Novelis, chairman says
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 22 2024
0mins
Source: Reuters
Investment Plans: Hindalco Industries will invest $10 billion to expand its aluminium and copper operations, including projects in the U.S. with Novelis Inc and a potential new facility in Gujarat.
Business Strategy: The company aims to diversify its customer base and produce components for electric vehicle cells, while the timeline for Novelis' initial public offering remains unspecified.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
