Hindalco Industries Ltd, an Indian aluminium producer, plans to invest around $180 million to expand its rolling capacity in Brazil by 100 kilotonnes (KT).
Hindalco said that it will do a bit of capacity addition in Brazil where it has 80 percent market share, in the aluminium segment.
Hindalco Industries expects to add another 80 to 100 KT for expanding rolling capacity. The company’s total revenue rose from $1.41 million to $1.48 million during the September quarter.
Hindalco, which announced the acquisition of U.S.-based aluminium rolled products producer Aleris Corp. in a $2.58 billion deal earlier this year, expects to close the transaction by April 2019.