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Rs 9,900 cr raised by Hindalco for Odisha project

The Aditya Birla Group Company had raised Rs 9,896 crore that they would use for the aluminum project in Odisha.  This fund came from consortium of banks and financial institutions. The debt would be for 12.5 years with an interest rate of 11.25 percent a year. The aluminum project of the company is being funded in a debt-equity ratio of 75:25.

Hindalco Aditya Birla Logo

Hindalco Aditya Birla

They also have another project in Koraput Odisha where they set up an alumina refinery with integrated bauxite mines. This project is expected to be completed by 2014. The company is really quite busy in doing different projects since adding to the projects they have, they are also implementing two other Greenfield projects – Utkal Alumina at Rayada in Odisha and Mahan Aluminum in Madhya Pradesh.

The goal of the company is to continue providing their service even though some companies are staying away from commitments. They are always on their course of delivering long-term strategic objective.

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