Hindalco Industries Ltd on Thursday said it will enter into a pact with the Odisha Mining Corporation for long-term supply of Bauxite ore.
The company plans to secure Bauxite ore for its proposed 2-million tonnes alumina refinery and 150-MW captive power plant at Kansariguda, Rayagada district, in Odisha.
This will be Hindalco's second alumina refining plant in the Rayagada district of Odisha.
"Hindalco Industries will be entering into a Memorandum of Understanding (MoU) with Odisha Mining Corporation for the long-term supply of Bauxite ore for its proposed 2-million tonnes alumina refinery and 150-MW captive power plant at Kansariguda in the Rayagada district," the company said in a regulatory filing.
The total proposed investment of Rs 8,000 crore will be in two phases. The first phase of one million tonnes is likely to be commissioned in FY'27, at an investment of Rs 5,500 crore.
Hindalco is one of the country's leading aluminium manufacturing companies.