"Hindalco Industries Ltd to Sign MoU with Odisha Mining Corporation"

Hindalco Industries Limited is set to ink a Memorandum of Understanding (MoU) with Odisha Mining Corporation, outlining the long-term supply of Bauxite ore. This strategic arrangement is intended to support the development of a 2-million tonne alumina refinery and a 150-MW captive power plant situated in Kansariguda, within Odisha's Rayagada District. This marks the Company's second alumina refining facility in the same district. The proposed investment, totaling ₹8,000 crore, will be executed in two phases. The initial phase, targeting 1 million tonnes, is slated for commissioning in FY27, requiring an investment of ₹5,500 crore, pending the formalization of definitive documents.

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