Hindalco to raise $1.8 bn debt for Orissa project

Hindalco to raise $1.8 bn debt for Orissa project

Mumbai: The non-ferrous metals producer Hindalco Industries plans to shortly raise debt of around 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 7875 crore for the $2.4 billion Mahan aluminium smelter and power plant project in central India.

Close