Hindalco subsidiary signs deal with US-based Ball Corporation to supply aluminium beverage can sheet

Also, this will be the first fully integrated aluminium manufacturing plant built in the United States in nearly 40 years with an initial capacity of 6 lakh tonnes of finished goods mainly for the North American beverage can and automotive markets.

The pact advances both firms' sustainability commitment and joint efforts to improve beverage can recycling, the filing noted.

Novelis recycles over 82 billion used beverage cans per year into new aluminium for beverage packaging. These efforts lead to lower-carbon products as recycling aluminium requires only 5 percent of the energy used to make main aluminium, resulting in 95 percent less carbon emissions.

Novelis expects global demand for aluminium beverage can sheet to increase at a 3 percent compounded annual growth rate from 2022 to 2031.

The growth in demand will be driven by consumer preference for more sustainable products and size variety, along with more beverage types being packaged in cans, such as water, energy drinks, soda, beer, wine, hard seltzers and ready-to-drink cocktails.

Shares of Hindalco Industries were trading 0.74 percent lower at Rs 481 apiece on the BSE at 10:13 AM.