Aditya Birla group plans $5-billion capex for expanding biz & Aleris deal

Aditya Birla Group

Aditya Birla group chairman Kumar Mangalam Birla has said they are looking at a capital investment of $5 billion over the next three years across their businesses both in the home market and abroad.

Speaking at The Economist India summit, he said the group has already spent about $3.5 billion in the past two years across various businesses.

He said further: “Our capex plans over the next three years is about $5 billion across our businesses both in the country as well as in the US. Aleris, which Novelis is acquiring, is also another aluminium rolled product player, will attract around $3 billion of this projected capex.”

He added: “The group is looking at growth across all areas of its businesses but most of it will come from financial services, cement, metals, garment and retail verticals.”

In July, the Birlas announced that they would snap up the US-based aluminium player Aleris for around $2.58 billion.

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Author: Research Desk