CM Naveen Patnaik Inaugurates the extended Alumina refinery of Utkal Alumina at Kashipur, Rayagada

Hon'ble Chief Minister Shri Naveen Patnaik has inaugurated the expansion of the existing Alumina refinery of Utkal Alumina located at Kashipur, Rayagada.

Situated at the tribal hinterland of Odisha, the expansion unit by the Aditya Birla group is built with an investment of INR 1500 crores will improve the refinery's annual capacity by 0.5 MT to 2 MT alumina production.

For this new unit, more than 500 people are being employed through direct and contractual roles. Reportedly, Aditya Birla group employs more than 12,000 people in Odisha, which accounts for more than 10% of its global workforce.

Addressing the gathering, the Hon'ble Chief Minister said, " I am particularly happy that investors in Odisha are expanding their existing projects in Odisha even after the impact of COVID-19. This shows that our economy is bouncing back from the impacts of the pandemic and we are back on the path of sustained growth and development."

He further added, "Odisha's association with the Aditya Birla group has been a fruitful and prosperous one. The Aditya Birla group has been a key player in the industrial growth story of Odisha with their presence spanning across sectors like metals, mining, cement, financial services, fashion and retail. The group has contributed significantly to healthcare, education, sustainable livelihood and other community engagement programs in Odisha as part of their CSR activities. Today's inauguration is a testament to the long-standing relationship between the Aditya Birla group and Odisha."

The dignitaries present in the virtual ceremony were, Captain Dibya Shankar Mishra, Hon'ble Minister of Energy, Industries, MSME, Odisha; Mr. Jagannath Saraka, Hon'ble Minister, ST &SC Development, Minorities & Backward Classes Welfare, Odisha; Chief Secretary, Odisha; Principal Secretary, Industries; Collector, Rayagada; Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group and Mr. Satish Pai, MD, Hindalco.

The active participation of Odisha based industries including the Aditya Birla Group in the Corporate Social Responsibility (CSR) activities have been phenomenal. Odisha is an industry upcoming state. The number of companies investing in the state has been phenomenal last couple of years and such investments will transform the lives across the state.

Shares of Hindalco Industries Ltd. was last trading in BSE at Rs. 473 as compared to the previous close of Rs. 482.9. The total number of shares traded during the day was 614074 in over 2736 trades.

The stock hit an intraday high of Rs. 486.5 and intraday low of 470.15. The net turnover during the day was Rs. 292401589.

Source : Equity Bulls

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