Hindalco to Invest Rs 800 Crore for Battery Foil Unit in Odisha
Hindalco Industries, an aluminum producer, revealed its intention to establish a battery foil manufacturing plant in Sambalpur, Odisha, investing Rs 800 crore to leverage the burgeoning electric vehicle market. Scheduled for commissioning by July 2025, the facility will commence operations by producing 25,000 tonnes of aluminum foil, a crucial component in lithium-ion and sodium-ion cells, according to Hindalco Industries. Additionally, the company aims to substantially enhance its production capacity of high-quality aluminum foil, essential for rechargeable batteries, as outlined in their statement.
According to the statement, Hindalco Industries plans to invest Rs 800 crore for constructing a new facility near Sambalpur in Odisha, initially focusing on producing 25,000 tonnes of the robust material essential for Lithium-ion and Sodium-ion cells. The company predicts a significant surge in demand for battery-grade aluminum foil in India by 2030, reaching 40,000 tonnes, primarily due to the rapid growth of gigafactories involved in advanced cell manufacturing.
Satish Pai, Managing Director at Hindalco Industries, emphasized the rising demand for battery materials propelled by optimistic prospects in the electric vehicle and grid storage sectors. He stressed the significance of localizing raw materials in such critical industries. Pai highlighted Hindalco's commitment to investing in battery materials and technologies as part of fostering self-reliance in India. He further noted that the investment in the new battery foil mill exemplifies Hindalco's continued efforts in this direction.