Vedanta Aluminium, a subsidiary of Vedanta Resources, has raised a Rs 17,000-crore debt for its ongoing project in Orissa to increase its fully-integrated aluminium smelting capacity.

SBI Capital Markets is the lead arranger for the transaction, in which around 10 banks participated. The company has already put Rs 13,500 crore-equity in the project and the debt part has been raised now.

Vedanta has chalked out a Rs 36,000-crore investment plan to increase its fully integrated aluminium smelting capacity to nearly 2.6 million tpa by 2012.

The company is expected to commission a 0.5 million tpa aluminium smelter, with a 1,215 MW captive power plant at Jharsuguda in Orissa by the end of the current financial year. The company is in the process of expanding the smelting capacity to 1.6 million tpa and has obtained the layout approval for constructing the second phase of the smelter at Jharsuguda, which will have a capacity of 1.1 million tpa.

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Vedanta plans to double alumina production (20-Nov-09)