Business Daily from THE HINDU group of publications
Thursday, Nov 15, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Nov 15, 2007 ePaper | Mobile/PDA Version |
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Industry & Economy
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Aluminium Aluminium industry set for huge investments Our Bureau Hyderabad, Nov. 14 The aluminium industry is poised for a big leap as over Rs 1 lakh crore investments are likely to be made in the next five years, according to the Aluminium Association of India. A major chunk of this investment would come from companies such as Nalco, Hindalco and emerging players like Vedanta, Mr K.S.S. Murthy, Honorary Secretary, AAI said at a media conference. Intl conference coming upThe International Conference on Aluminium, INCAL 2007, is expected to be held here between November 21- 23. The AAI is also working on a draft national aluminium policy to be submitted to the Union Government. “This will serve as a background note to the policy makers,” he said. Aluminium consumptionMr Shashi K. Maudgal, Executive President (Marketing), Hindalco Industries Ltd, said the aluminium consumption in the country is growing at 18 per cent per annum as against a global growth of over 4.4 per cent. “It has now emerged as the second largest metal to be consumed after steel with a total production capacity of 1.1 million tonnes. According to a McKinsey report, Indian aluminium use will grow to 2.75 million tonnes by 2015,” he said. The international conference, being organised by the Aluminium Association of India once in four years, would take stock of industry growth and provide directions for future growth, he added. The three-day conference would have about 52 technical presentations on various aspects of the industry besides a trade show to showcase latest technology and products of different companies. More Stories on : Aluminium | Events
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