Nalco to raise $211 mn in foreign debt | business | Hindustan Times
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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.

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