HEG has achieved financial closure for its
graphite electrode capacity expansion project. The company has tied up loans
worth Rs.314 crore towards funding its project with 60 per cent of these being
domestic term loans at an average cost of 6.88 per cent. The remainder has been
raised through foreign borrowings at an average interest rate of 6.72 per cent.
HEC is expanding the graphite electrode
manufacturing capacity at its Mandideep plant in Raisen district of Madhya
Pradesh from 30,000 tpa to 52,000 tpa. The project is expected to be
commissioned by December 2005.