AHMEDABAD : Adani Group, which has presence in ports, airports, power, gas distribution, among others, is all set to foray into the business of setting up alumina refinery and aluminium smelter.
Adani Enterprises, the flagship company of the Group, on Saturday announced that it has incorporated a wholly-owned subsidiary Mundra Aluminium Limited on December 17.
Mundra Aluminium, which is yet to commence its business operations, has authorised and paid-up share capital of Rs 1 lakh, the company informed in an exchange filing.
“Mundra Aluminium Limited is incorporated with the object to venture into business of setting up alumina refinery and aluminium smelter,” the filing said.
Mundra Aluminium is incorporated in India and registered with the Registrar of Companies in Gujarat at Ahmedabad, it added.
The Adani Group, led by billionaire Gautam Adani, has been gearing up to enter new sectors for some time now. In June this year, Adani Enterprises incorporated a wholly-owned subsidiary, Adani Cement Industries Ltd, to carry on business as manufacturer, producer and processor of all types of cements.
Later in August, it set up Adani Petrochemicals Limited with an objective of setting up refineries, petrochemicals complexes, specialty chemicals units, hydrogen and related chemicals plants and other such similar units.