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HomeTrendsHindalco plans Rs 2,000 crore copper, e-waste recycling unit

Hindalco plans Rs 2,000 crore copper, e-waste recycling unit

Hindalco plans Rs 2,000 crore copper, e-waste recycling unit

Hindalco Industries, under the leadership of Chairman Kumar Mangalam Birla, has announced plans to invest up to Rs 2,000 crore in establishing a unique copper and e-waste recycling facility in India. This initiative was announced during the company’s 64th annual general meeting (AGM) on August 22.

According to Birla, this facility will be the first of its kind in India and will serve as a solution to the growing challenge of e-waste. E-waste, which consists of discarded electronic devices, has become a significant global concern due to its environmental impact and the valuable resources it contains.

Hindalco Lines Up Rs 2,000 Crore Capex For Expansion

The lack of advanced metal extraction and refining technologies within India currently results in a significant amount of e-waste being exported to other countries for processing. By creating an advanced recycling facility domestically, Hindalco aims to address this issue and enhance India’s capacity to manage and process its own e-waste more sustainably.

This investment aligns with global efforts to promote circular economies and reduce the environmental impact of electronic waste disposal. E-waste recycling facilities can recover valuable metals and materials from discarded electronics, contributing to resource conservation and minimizing the environmental footprint of electronic waste.

Hindalco lines up Rs 2,000 cr capex for expansion

Hindalco’s move also demonstrates corporate responsibility in tackling environmental challenges and supporting India’s efforts to develop a more sustainable and self-reliant waste management infrastructure. As with any ongoing development, it’s advisable to stay updated with the latest news for any further updates on this initiative.

Kumar Mangalam Birla, Chairman of Hindalco Industries, highlighted the significance of introducing cutting-edge technology to India through the establishment of the copper and e-waste recycling facility. This technological advancement represents a transformative step in line with both the company’s objectives and India’s circular economy agenda.

The concept of a circular economy involves minimizing waste and promoting the sustainable use and reuse of resources. By introducing advanced recycling technology in India, Hindalco aims to contribute to this agenda by offering a concrete solution to address the challenges posed by e-waste and other forms of waste.

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Birla also emphasized the achievements of Novelis, Hindalco’s US-based subsidiary. Novelis managed to recycle a substantial 2.3 million tonnes of aluminium scrap. Notably, the company achieved an increase in the recycled content in its products, reaching an impressive rate of 61 percent. This recycling achievement positions Novelis as a standout player in the industry, with a recycled content rate that is more than double that of its nearest competitor.

These accomplishments underline Hindalco’s commitment to sustainable practices, innovation, and leadership in recycling and resource conservation. The establishment of the recycling facility in India and the advancements made by Novelis contribute to the company’s global efforts to reduce waste and promote environmentally responsible manufacturing practices.

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Kumar Mangalam Birla, Chairman of Hindalco Industries, highlighted the company’s commitment to sustainability, waste utilization, renewable energy, and innovation:

1. Waste Utilization: Birla mentioned that Hindalco has made significant strides in waste utilization, with 90 percent of the company’s waste being put to use across its sites in India. This showcases the company’s efforts to minimize waste and maximize resource utilization.

2. Fly Ash and Bauxite Residue Utilization: In fiscal year 2023, Hindalco achieved the remarkable feat of utilizing over 100 percent of fly ash and bauxite residue from three of its four alumina refineries. This indicates the company’s focus on repurposing byproducts and minimizing their environmental impact.

3. Sustainable Certifications: Hindalco obtained “SUP-free” certifications at 14 of its Indian sites, signaling its commitment to responsible and sustainable practices. The company is also working toward achieving water positivity across all its mines by 2025, highlighting its dedication to water conservation.

4. Renewable Energy Integration: Birla noted that Hindalco’s integration of renewable energy has grown by over 54 percent in FY23, reaching 150 MW. This is a substantial step toward the company’s target of 300 MW by 2025. Utilizing renewable energy sources aligns with environmental sustainability goals.

5. Supporting Railways’ Carbon Reduction Goals: Hindalco is actively assisting Indian Railways in achieving its carbon reduction goals. The company has introduced India’s first all-aluminium lightweight rake for railways, which not only enhances speed and payload capacity but also contributes to a substantial reduction of over 14,500 tonnes of CO2 over its lifespan.

6. Innovations in Railways: The company is working on introducing three more designs of freight wagons that cater to specific end-use applications like bagged cement and food grains. Additionally, Hindalco plans to partner with Indian Railways for the development of the passenger coach manufacturing ecosystem for high-speed Vande Bharat trains. This involves a significant investment of Rs 2,000 crore and technology tie-ups to introduce advanced manufacturing technologies to India.

Hindalco’s initiatives reflect its commitment to sustainability, innovation, and partnerships with key sectors like transportation and infrastructure. These efforts contribute to the larger goals of resource conservation, environmental responsibility, and technology advancement.

Kumar Mangalam Birla, Chairman of Hindalco Industries, outlined the company’s involvement in the electric vehicle (EV) manufacturing space and its broader transformation as a metal solutions provider:

1. EV Component Manufacturing: Hindalco is actively engaged in the EV manufacturing sector. The company is collaborating closely with original equipment manufacturers (OEMs) to co-develop and manufacture critical components required for electric vehicles. These components include battery enclosures, motor housings, busbars, structural and safety components, and lightweight load bodies. This reflects Hindalco’s commitment to supporting the growth of the EV industry in India by supplying essential components.

2. Diverse Product Portfolio: Hindalco’s projects in various areas, such as battery foils, coated aluminum fins, and aerospace-grade extrusions, demonstrate the company’s diverse and forward-looking product portfolio. These initiatives position Hindalco as an ideal partner for multiple industries, contributing to new product development and the “Make in India” initiative.

3. Key Role in India’s Manufacturing Growth: Birla highlighted Hindalco’s strategic role in India’s journey toward becoming a manufacturing powerhouse over the next 25 years leading up to the country’s 100th year of independence in 2047. This underscores the company’s long-term vision and commitment to driving India’s industrial growth.

4. Transformation to Metal Solutions Provider: Birla mentioned that Hindalco’s evolution will go beyond being a mere metals manufacturer. Instead, the company is positioning itself as a comprehensive metal solutions provider. This transformation indicates Hindalco’s intention to provide not just raw materials but also advanced and value-added solutions to various industries, catering to their specific needs.

Hindalco’s efforts in the electric vehicle sector, diverse product development, and its vision for India’s industrial growth showcase the company’s forward-looking strategy and commitment to being a prominent contributor to India’s manufacturing and economic progress.

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