Nalco to raise $211 mn in foreign debt
National Aluminium Company Ltd plans to raise 150 million euros in foreign debt to fund its expansion activities.business Updated: Sep 24, 2007 10:09 IST
National Aluminium Company Ltd plans to raise 150 million euros ($211.3 million) in foreign debt to fund its expansion activities, the state-run aluminium maker said.
"Quite a few banks and merchant bankers have responded to the bids invited by us," Chairman CR Pradhan said in a statement over the weekend.
Nalco is spending 50.03 billion rupees ($1.3 billion) to raise the capacities in its bauxite mines, alumina refinery, aluminium smelter and captive power plant, it said in the statement.