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CORPORATE: Hindalco to wrap up Utkal financial closure by Nov.
from BUSINESS LINE, September 19, 2009 Mumbai, Sept. 18 - Hindalco Industries, part of the Aditya Birla group, will achieve financial closure of Rs 5,000 crore by November for its Utkal Alumina project at Rayagada, Orissa.
The company is also in talks with banks to finalise a Rs 8,000-crore loan for the Mahan Aluminium plant in Madhya Pradesh.
Mr Sunirmal Talukdar, Group Executive President and Chief Financial Officer, told reporters after the 50th annual general meeting, "The company has finalised the list of banks to raise Rs 5,000 crore for the Utkal Alumina project and the financial closure should happen before November.
"As for the Mahan Aluminium …
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