Hindalco Industries Limited is building a $5 billion integrated aluminium plant at Bay Minette, North America, to serve North American customers as part of Aditya Birla Group chairman Kumar Mangalam Birla's multi-local overseas strategy to mitigate tariff and geopolitical risks. Birla said at the ET World Leaders Forum that Hindalco's focus is to commission and ramp up the plant, which will be pivotal for its future, while its subsidiary Novelis, the world's largest flat-rolled aluminium producer, has stabilised after a fire and its planned US listing remains off the table due to inadequate valuation discovery.