23 AUGUST 2011timesofindia.indiatimes
Hindalco plans to raise Rs 8,000 crore
Edited by : AL CIRCLE
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Hindalco Industries, the metals flagship of the Aditya Birla group, plans to raise around Rs 8,000 crore of debt amid volatility in the global markets and rising borrowing costs in the Indian market. This debt will be used to part fund its Aditya Alumunium refinery project and a captive power plant in Orissa.
"The equity part for the Aditya aluminium smelter project has already been tied up and we are likely to launch the debt financing plan soon." D Bhattacharya, managing director, Hindalco, told TOI. He, however, declined to mention a fixed timeline for the borrowing.
"The equity part for the Aditya aluminium smelter project has already been tied up and we are likely to launch the debt financing plan soon." D Bhattacharya, managing director, Hindalco, told TOI. He, however, declined to mention a fixed timeline for the borrowing.
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