Construction Industry News
Over the next five years, Hindalco Industries Ltd plans to invest up to $7.2 billion in expanding its aluminum business as global supply shortages and strong demand prospects push prices to unprecedented heights.
Billionaire Kumar Mangalam Birla's company will use the money to expand its operations in India and North America. In an investor presentation, it said it has set aside $2.4 billion over the next five years for its Indian aluminum business, with consumption expected to double over the next decade.
During that time, Novelis Inc will invest up to $4.8 billion in the United States, Brazil, Asia and Germany, including some previously announced expansions.
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