Hindalco aims to lead in EV Market through Battery Foil Manufacturing
Jharsuguda : President and Sambalpur Cluster Head of Hindalco, Kailash Pandey on Friday said, Hindalco plans to set up a manufacturing unit for specialized aluminum foil for Lithium-ion Batteries at Lapanga in Sambalpur district of Odisha. The unit will be set up with an approximate investment of Rs. 803 crore and would help the aluminum conglomerate lead in the electric vehicle (EV) market with its new facility.
Addressing the 24th edition of Enterprise Odisha at Jharsuguda, Pandey also informed that the company also plans to set up a White Fused Alumina project within the premises of Aditya Aluminium, Lapanga unit. This project would reduce dependence on imports for Indian Refractory industry and open up significant export opportunities in Southeast Asia, the Far East and the Middle East.
Both the projects have already obtained necessary single window clearance from Govt of Odisha.
The Aditya Birla Group’s metal flagship, Hindalco has already invested over Rs. 25,000 crore in Odisha during last 15 years. As Odisha’s only fully integrated aluminum producer, from mining to value-added products, Hindalco is now venturing into green energy with a new battery foil project at Aditya and a 1,000 MW floating solar project on the Hirakud reservoir, the largest of its kind.