Hindalco Industries, the flagship of the Aditya Birla Group, has raised, 7,875 crore in debt for a greenfield aluminium smelter plant at Mahan, Madhya Pradesh, making it one of India’s largest debt raising exercise and putting on track the group’s proposed $5-billion projects to consolidate the Birlas position as one of the leading producers of aluminium.
Hindalco raised the loan from a syndicate of 31 banks on a floating rate basis for a tenor of 12.75 years. The Mahan smelter project will have an annual capacity of 359,000 tonnes and will also include a 900 MW power plant. Aditya Aluminium is also a 359,000 tonne smelter at Lapanga in Orissa. The project includes a 4.2-million-tonne bauxite mine and a 1.5 million tonne alumina refinery at Kansariguda. In August, last year, Hindalco secured $1.05 billion in loans for the 1.5 MT Utkal Alumina project in Orissa.
Demand for aluminium, the white metal used in consumer goods and in aircraft, is rising steadily with the growth in the economy. China’s aluminium demand is expected to grow by approximately 15% in 2011, after surging to more than 20% last year. crackcrack
| Company Name | CMP |
|---|---|
| Hindalco | 1038.95 |
| Vedanta | 787.60 |
| Hindustan Zinc | 592.35 |
| Jain Resource Recycl | 420.90 |
| Gravita India | 1639.80 |
| View more.. | |
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