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Hindalco's $5 Billion Bet on Beverage Cans
Hindalco, an Aditya Birla Group company, is making a significant $5 billion bet on the North American beverage packaging market through its subsidiary Novelis.
The investment involves building a new 600 KT rolling and recycling plant in Alabama, US, which will supply aluminium can sheet to Coca-Cola's North American bottlers under a multi-year agreement.
Novelis expects two-thirds of the plant's production to serve the North American beverage packaging market, with the remaining capacity serving automobiles and specialty products.
The company has already signed long-term contracts with customers for all of Bay Minette's new beverage packaging capacity, ensuring a steady demand for its product.