Hindalco Industries to raise funds for greenfield project in Orissa

Hindalco Industries is planning  to raise funds for its greenfield project in Orissa.

The company plans to raise about Rs 9,000 crore for the project. Earlier, Hindalco was planning to build a 0.36 million tonne aluminium smelter along with a 1 million tonne alumina refinery. But, the revised plan includes a 0.72-million tonne smelter which is to be completed in phases. The company has already applied to the state government for approval. The funds will be raised either through bank term borrowing or any other instrument.