Producer of copper and aluminium Hindalco Industries is to invest Rs 2,000 crore to build a facility for recovering copper and e-waste. At the company's annual general meeting on Tuesday, chairman Kumar Mangalam Birla informed shareholders of this intention.

Your company is making an investment of Rs 2,000 crore to establish the first-of-its-kind copper and e-waste recycling facility in India," Birla said in his speech, adding that the move will tackle the challenges posed by electronic waste.

He further explained, "At present, due to the lack of advanced metal extraction and refining technologies domestically, a substantial volume of e-waste is exported to other nations. Bringing this cutting-edge technology to India marks a transformative step towards offering a tangible solution, aligned with your company and our nation's circular economy agenda."