Hindalco Industries Ltd.

Hindalco Industries hasdecided to delay the financial closure of the Rs 7,800 crore Aditya Alumuniumrefinery project due to uncertain market conditions. The markets werenot favourable to raise the money at this point in time. Work on the projectwas on and there was no constraint on funds to hold up the project. The debt toequity ratio for the project is 75:25 and the company is using equity for theproject. Hindalco had raised $600 million via a QIP issue in 2009 for itsexpansion plans. The project is expected to be commissioned in 2013. Theproject includes a 359-kilo tonne per annum aluminium smelter, a 900 Mw captivepower plant and an alumina refinery. The company has got the clearances for the260-ktpa smelter and 600 Mw of power generation.crackcrack