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Hindalco achieves financial closure for Odisha project

September 18, 2012 1 comment

Hindalco Industries has tied up funds for its Aditya Aluminium smelter project at Lapanga in Odisha.

The company has tied up Rs 9,896 crore debt through a consortium of 28 banks and financial institutions. The 13,195-crore project is being funded in a debt-equity ratio of 75:25. The company will set up a 3.59 lakh tpa aluminium smelter along with a 900-MW captive power plant at Lapanga. The equity part for the project has already been financed by internal accruals and QIP (qualified institutional placement) issuance of $600 million (approx Rs 3,300 crore) made in November 2009.

Also, the company is setting up an alumina refinery with integrated bauxite mines at Koraput in Orissa, which is expected to be completed by 2014.

HCC bags Hindalco order for Lapanga project

December 31, 2009 Leave a comment

Hindustan Construction Company (HCC) bagged an order worth Rs 108.73 crore from Hindalco Industries, Orissa, for pot shell fabrication works for greenfield smelter project at Lapanga, Sambalpur, Orissa.

The order is to be completed in 19 months from the date of issue of this order.

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