Hindalco Industries has co-incorporated UHG Holdings IFSC Private Limited, investing Rs. 0.05 Cr for a 50% stake.

This new entity, based in GIFT City, is set to boost Hindalco's operational network.

UHG Holdings will focus on owning, operating, and leasing key transportation assets like aircrafts and ships.

This strategic move aims to enhance Hindalco's logistics capabilities, offering greater flexibility and efficiency in its supply chain.

UltraTech Cement and Grasim Industries are also co-subscribers, holding 41% and 9% stakes, respectively.