Aditya Birla Group plans to make an investment of INR 7,000 crore in Andhra Pradesh over the next two years, mainly to expand existing businesses.
The Indian multinational giant has interests in sectors like metals, apparel, cement, chemicals, fertilisers, telecom, financial services and IT services.
Approximately $41 billion was the revenue of Aditya Birla in 2015 with operations in around 40 countries. The company was behind behind Tata Group ($100 billion) and Reliance Industries ($74 billion).
At present, the Birla Group has investments worth INR 10,000 crore in Andhra Pradesh across sectors like cement, telecom and retail.
“As we go along, we expect to invest another Rs 7,000 crore in the next two years. This will be towards the expansion of our existing businesses,” said Group Chairman, Kumar Mangalam Birla at an investment summit.
“We are acquiring a 5 million tonnes per annum plant at an investment of Rs 3,000 crore located near Amaravati city,” added Birla.
Idea cellular, which has eight million customers at present, will make an investment of over INR 1,300 crore to extend 3,500 cell sites, largely 3G and 4G.
Aditya Birla Group’s metals flagship company, Hindalco Industries Limited is the world’s largest aluminium-rolling company, and one of the biggest producers of primary aluminium in Asia with a consolidated turnover of about US$15 billion.
Aditya Birla Group to invest Rs 7,000 crore in Andhra Pradesh
