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Hindalco mulls new aluminum plant targeting India's defense sector

India's Hindalco Industries Ltd. is looking to build a high-end aluminum plant that will supply the country's defense sector.

Livemint quoted Managing Director Satish Pai June 1 as saying the project would cost 20 billion Indian rupees, and Hindalco is in talks with the government regarding a potential public-private partnership for the project.

"We are talking to the ministry of defence for setting up more high-end alloy plate manufacturing in India," he said. "We are hoping for a pick-up in the defence sector."

The project is expected to take about two years to complete.

Hindalco predicts India will need about 5,000 tonnes of high-end alloy plates over the next five years, and the company is aiming to double its downstream aluminum capacity over the same period to help meet that demand.

The company achieved record aluminum output of 1.27 million tonnes, a 12% increase year over year, for its 2017 financial year.

As of June 1, US$1 was equivalent to 64.41 Indian rupee.