Hindalco Industries Ltd’s shares were up by 2.48 per cent after the company announced plans to invest Rs 800 crore in setting up a battery foil manufacturing facility near Sambalpur in Odisha. The new plant, scheduled to be commissioned by July 2025, aims to address the surging demand for high-quality aluminium foil used in rechargeable batteries, particularly for electric vehicles (EVs) and energy storage systems.
- Also read: Hindalco ties up with Italian co. Metra for extrusion tech
The 25,000-tonne capacity plant is Hindalco’s move to cater to the growing market for Lithium-ion and Sodium-ion cells. Hindalco has also progressed in battery foil production at its Mouda unit in Maharashtra. The new Odisha unit will further enhance the company’s capabilities to supply materials to gigafactories worldwide. The factory will be situated alongside a 25 MW solar power plant,
The shares were up by 2.48 per cent to ₹535.45 at 11:44 am on the BSE.