Hindalco Industries Limited and Odisha Mining Corporation have sealed a deal with a Memorandum of Understanding (MoU) to ensure a long-term bauxite supply. Central to this partnership is the provision of bauxite ore, essential for aluminium production.
Hindalco, a leader in aluminium production, has shared plans to build an advanced 2 million-metric-ton alumina refinery and a state-of-the-art 150-MW power plant in Kansariguda, Rayagada District. This initiative marks Hindalco Industries’ second dip into alumina refining in Rayagada.
Odisha Mining Corporation will be key in supplying the bauxite for this venture. The MoU’s official announcement came via an exchange filing.
The project’s scale is reflected in its funding, with a remarkable proposed investment of about 8,000 crore INR, rolled out in two phases. The first phase, aiming for a 1 million-metric-ton capacity, is set for completion in the 2027 fiscal year, backed by an investment of 5,500 crore INR.
This venture further emphasizes Hindalco Industries’ commitment to innovation, sustainability, and industry leadership, the firm noted.