Hindalco to spend nearly $7 billion on capex in 3-5 years

Hindalco Industries plans to invest $7 billion in capital expenditure over three-five years, focusing on Novelis and Hindalco India. The Bay Minette facility in North America, costing $4.1 billion, will enhance production capacity for beverage cans and automotive-grade aluminium sheets. Long-term agreements with major customers like Coca-Cola are in place. Novelis will also invest in recycling centers in North America and South Korea.