首页|Post-restructuring, AV Birla group eyes plants abroad
Post-restructuring, AV Birla group eyes plants abroad
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NSTL
After restructuring its aluminium and non-ferrous business, the A. V Birla group, India's largest non-ferrous metals player, is looking to buy aluminium plants abroad. Though the plan may be in its early stage, the group was reported to be eyeing the Middle East region where power costs are cheaper than other parts of the world. Hindalco, the country's largest metal maker, bought the copper business of Indo Gulf Corporation in July making it India's largest non-ferrous metals producer. The capacities are, however, small compared to most global majors. Despite the restructuring, Hindalco's capacities remain small, compared to international bigwigs, like Alcoa, which has a capacity of 4.1 million ton, and Russia's RusAl, which comes second makes 2.5 million ton. Also companies like Rio Tinto and BHP Billiton make both copper and aluminium. Meanwhile, Hindalco has floated a 500 million rupees bond issue, with an inverse floating interest rate structure. This is the third such issue in the market. Grasim had launched two inverse floating issues during this month. ABN Amro Securities is the sole arranger to the Hindalco issue. The issue has been rated "AAA" by Crisil, rating highest safety.
NSTL
