The Business Bytes
TBB BUREAU
BHUBANESWAR, NOV 22, 2023
Aditya Birla Group company Hindalco Industries Ltd. has evinced interest in setting up a plant in Odisha to produce battery-grade Aluminum foil, a critical component in Lithium-ion cells used in electric vehicles (EV).
Talking to media persons on the sidelines of the 77th Annual Technical Meeting of The Indian Institute of Metals and National Metallurgist Awards (IIM-ATM 2023 & NMA) here on Wednesday, Hindalco Industries Ltd. Managing Director Satish Pai said that the Company would set up a high capacity plant at Lapanga in Sambalpur district of Odisha to produce EV battery aluminium foil that will not only meet the growing demand of the domestic and international market.
Use of aluminium foil in lithium-ion batteries enhances the performance and service life, consistency and rate discharge functions, inhibit battery polarization and reduce thermal effects of the battery, thus making it durable and cost effective. Its use in EV batteries and other electric and electronic appliances also helps in protecting the products due to its anti-corrosive property, informed the Hindalco MD.
Keeping in view the rapid economic growth in the country which is very encouraging for the mines and metal sector, Hindalco plans to go for capacity expansion at its plants in Odisha, said Pai.
Stating that India is the only country in the world which is witnessing double-digit growth in the metal sector, Pai said Hindalco would invest USD 100 crore to set up an alumina refinery at Kansariguda in Rayagada district of Odisha.
The company would also invest Rs 3800 crore in the Rolling Mill project at Lapanga, he added.
