Working at a breakneck speed to kickstart the economy, the Narendra Modi-led BJP Government is looking to give a big boost to the infrastructure sector. And in one of the first few steps to achieve that, the new Government has cleared seven projects worth Rs 21,000 crore, recently.
Tag: Hindalco
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Over 100 large projects await bank funding
Over 100 projects, including from Tata Steel and Hindalco, sought financial assistance from public sector banks during January-March 2014. The industrial houses are pinning hope on the new government to boost sentiments, especially in manufacturing and capital goods sectors.
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Banks refinance Hindalco’s Rs 47 bn debt
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
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MPT set to diversify cargo handling
The crisis in the mining sector in Goa and Karnataka affected cargo traffic at Mormugao Port Trust (MPT) and hence the port plans to diversify its cargo handling. In this regard, the port is said to have taken steps to change its profile from a mono-commodity port to a multi-commodity port