State Bank of India and Axis Bank are learnt to have refinanced Rs 4,700 crore debt of Hindalco for the Utkal alumina project. The flagship company of the Aditya Birla Group managed to refinance the debt at an interest rate of 10.15 percent payable over an eight-year
Tag: alumina
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Panel submits report on linkage policy to Odisha govt
An inter-ministerial committee set up by the Odisha government submitted its report on the long-term linkage policy for supply of ore to local industries. The state government would examine the report and may take action to boost supply of raw material to local industries. The submission of the report prompted Vedanta Aluminium (VAL) to be optimistic about securing bauxite ore from
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Odisha govt restricts gram sabhas to 12 villages
Ignoring the suggestion of the union tribal affairs ministry, Odisha government plans to conduct gram sabhas in only 12 villages of Kalahandi and Rayagada districts to decide whether to allow bauxite mining at Niyamgiri hills by Vedanta Group. The state government will conduct gram sabhas on July 18 and August 19. Earlier, the union tribal ministry suggested the state gove