Hindalco develops India's first all-aluminium railway wagon; check details here

The first all-aluminium wagon by Hindalco was developed in response to the Centre’s vision for the Indian Railways

FP Trending August 24, 2022 19:19:57 IST
Hindalco develops India's first all-aluminium railway wagon; check details here

Image: Hindalco/Moneycontrol

Hindalco Industries, a part of the Aditya Birla Group, has announced that it has developed the first all-aluminium wagon for the country. On 23 August, Chairman Kumar Mangalam Birla spoke at Hindalco’s annual general meeting and made the announcement. He also stated that the wagon is “about 3.2 tonnes lighter than a steel rake”. The first all-aluminium wagon by Hindalco was developed in response to the Centre’s vision for the Indian Railways. The wagon, which is made from lightweight, high-strength aluminium alloys, allows an extra payload per trip of 180-190 tonnes. The all-aluminium wagon will also fast-tracks India’s decarbonisation journey.

Apart from that, the all-aluminium wagon also helps reduce 1,500 tonnes in carbon emissions a year, according to Kumar Mangalam Birla. He also said that if even five percent of the two lakh railway wagons that the Centre plans to introduce are made of aluminium, it can lead to potential carbon savings of 15 million tonnes a year.
Kumar Mangalam Birla also stated how his company is trying to focus more on reducing its carbon footprint. Hindalco is aiming to achieve net carbon neutrality, zero waste to landfill, zero net loss to biodiversity and water positivity by 2050.

Hindalco is the only aluminium company present in the Dow Jones Sustainability World Index 2021. The company managed to grow its consolidated net profit four times to Rs.13,730 crore.  "In FY22, your Company delivered an exceptional financial and operational performance culminating in record-breaking profitability for the year. Consolidated Net Profit for the year grew four times to Rs.13,730 crore. Consolidated EBITDA was up 59 per cent, at Rs.30,056 crore in FY 2021-22," Birla stated in the AGM.

Kumar Mangalam Birla had earlier stated that Hindalco has earmarked a capital expenditure of $8 billion in its arm Novelis and India over the next five years. As per a PTI report, the company has identified nearly $3 billion of potential investment opportunities in India. Novelis has found potential investment opportunities of $ 4.5 billion, according to the report.
The shares of Hindalco were trading higher on Wednesday. The company closed the session at Rs 428.85, up by 0.22 percent.

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