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Hindalco to raise $1.8 bn debt for Orissa project

Hindalco to raise $1.8 bn debt for Orissa project
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First Published: Mon, May 30 2011. 06 19 PM IST
Updated: Mon, May 30 2011. 06 19 PM IST
Mumbai: The non-ferrous metals producer Hindalco Industries plans to shortly raise debt of around Rs 8000 crore ($1.77 billion) for its Aditya Aluminium project in eastern state of Orissa, finance head Sunirmal Talukdar said on Monday.
The company is setting up an alumina smelter and a captive power plant in Orissa as part of the project.
In March, Hindalco signed a rupee loan agreement for the entire debt of Rs 7875 crore for the $2.4 billion Mahan aluminium smelter and power plant project in central India.
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First Published: Mon, May 30 2011. 06 19 PM IST