Hindalco Industries rises 0.9% on average volume for a second consecutive day, a two day rise of 4.5%
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HindalCo Industries Ltd's Subsidiary Announces Acquiring Alumina Refinery From Novelis inc's Subsidiary
HindalCo Industries Ltd announced that it has finalized its arrangement for acquiring Alumina Refinery and Bauxite Mines from Novelis Do Brasil Ltda, a wholly owned subsidiary of Novelis inc. The agreement was executed between Novelis Do Brasil, Novelis Inc. and AV Minerals (Netherlands) B.V., a wholly owned subsidiary of Hindalco Industries Ltd. The Alumina Refinery, with a capacity of 145 KPTA, situated in the city of Ouro Preto, State of Minas Gerias, Brazil, has Mining Rights of over 50 million tonnes of Bauxite reserves. Financial terms were not disclosed.
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