In a bid to part-finance its expansion activities, State-owned Hindustan Copper is planning to raise $250 million through external commercial borrowings (ECB) route in the current quarter. As per its expansion plan, Hindustan Copper will be investing over Rs 3,000 crore on eight projects across the country to increase its production.
The company, which has projected a production of 3.45 million tonnes of copper in 2011-12, has set an ambitious target of producing 12.41 million tonnes of red metal by 2016-17.
The company is currently sitting at cash reserves of about Rs 550 crore and is on the disinvestment radar of the government in the current fiscal.
Hindustan Copper’s principal activities include mining of copper ore, concentration of copper ore into copper concentrate through a beneficiation process and also smelting, refining and extruding of the copper concentrate into refined copper in downstream saleable products.
| Company Name | CMP |
|---|---|
| Hindalco | 1038.95 |
| Vedanta | 787.60 |
| Hindustan Zinc | 592.35 |
| Jain Resource Recycl | 420.90 |
| Gravita India | 1639.80 |
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