Billionaire K M Birla to spend $7.2 billion on aluminum demand bet
Hindalco Industries Ltd. will spend as much as $7.2 billion to expand its aluminum business over the next five years, as global supply shortages and strong demand prospects push prices toward unprecedented levels.
The company owned by billionaire Kumar Mangalam Birla will invest the amount mainly across its businesses in India and North America. It has set aside about $2.4 billion for its Indian aluminum operations during the five years ending March 2027 as it expects consumption to double in the next decade, it said in an investor presentation.
