Aditya Birla Group announces US$5bn capex plan

India's Aditya Birla Group, parent of UltraTech Cement, has announced US$5bn capex plans over the next three years for its businesses both in the domestic market and abroad.

"Our capex plans over the next three years is about US$5bn across our businesses both in the country as well as in the US. Aleris, which Novelis is acquiring, is also another aluminium rolled product player, will attract around US$3bn of this projected capex," said Kumar Mangalam Birla, group chairman, at The Economist India summit.

The remainder of the capex will go into its cement, financial services, chemicals and fibre businesses.