(Hindalco) has raised plant capacity in Brazil to 100000 tonnes
(Hindalco) and CEO Satish Pai recently said it plans to invest about $180 million to increase rolling capacity to 100000 tonnes at the Brazilian plant. Satish Pai said the Brazilian aluminium industry had 80 percent of the market and would add an 80-100KT to increase rolling capacity. Hindalco's earlier acquisition of (Aleris) 's downstream aluminium industry for $2.5 billion through its wholly-owned subsidiary Norberis (Novelis) is expected to be completed in April 2019. Pai added that all procedures are progressing smoothly. Although not approved, the company received no termination signal. Of that amount, $775 million (cash payments) will be paid with a five-year loan, with the rest secured through one-year transitional financing. The company will refinance and withdraw its bonds. Hindalco reported earnings of 61.35 billion rupees for its aluminium division and 52.18 billion rupees for FY18 Q2. FY19 Q2's profit before interest, tax, depreciation and amortisation rose 13 percent to 13.64 billion rupees from a year earlier. FY19 Q2 has a capacity of 326000 tons of aluminum due to the high capacity of the designed zui plant. Alumina capacity (including Utkal alumina) is slightly lower by about 701000 tonnes.
