Hindalco Industries- the flagship company of the Aditya Birla Group, has signed an MoU with the Madhya Pradesh government to invest Rs 15,000 crore over the next two years on day-1 of Global Investors Summit.
Making the announcement at Bhopal’s Indira Gandhi Rashtriya Manav Sagrahalaya (IGRMS) on Monday, Hindalco’s Managing Director Satish Pai stated, "Over the next two years, we will invest around Rs 15,000 crore from Hindalco alone. Additionally, the group will be developing a major mine called Banda."
Hindalco already has a strong presence in Madhya Pradesh, with investments worth Rs 25,000 crore, primarily in its aluminium smelter at Mahan in the Singrauli district. The investment aims to strengthen the company’s operations and stimulate the local economy.
Pai also discussed the impact of global trade policies, particularly in the United States, on Hindalco. "Hindalco has a very large American subsidiary called Novelis. So for the consolidated Hindalco, we believe that these tariffs are neutral to positive because our American subsidiary benefits and Hindalco in India does not really export aluminium to the US. So for us, we are neutral to positive.," he explained.
Besides Hindalco, other Aditya Birla Group companies, including UltraTech Cement and Grasim’s Viscose Staple Fibre (VSF) division, are also working on independent projects in Madhya Pradesh, reinforcing the group's commitment to the state's industrial development.
The Madhya Pradesh government has welcomed Hindalco’s investment, viewing it as a crucial step toward establishing the state as a leading hub for aluminium production and industrial growth. The expansion is expected to generate significant employment opportunities and drive economic progress in the region.
