Base metal companies line up Rs 1.14 trillion capex as demand rises

Host of sectors pushing up need for metals; capital outlay significant by firms, say experts

Non-ferrous or base metal companies from Hindalco to Vedanta, Hindustan Zinc, Nalco and Hindustan Copper are increasing their capital expenditure (capex) outlays for the future as demand grows from user industries. Almost Rs 1.14 trillion of capex has been lined up between FY23 and FY29 by these firms, their recent announcements show, as sectors such as renewable energy, electric cars, beverage cans, electronic, cable and durable products and aerospace, push up the need for metals.

The need to increase the outlay, say experts, is linked in part to slower capacity expansion by metal companies in India and globally over the last