Vedanta Aluminium raises $250 million from international banks through sustainability-linked loans

AL Circle

On January 31, 2023, Vedanta Aluminium announced that to finance its capital expenditures and lessen its carbon impact, it had raised $250 million (INR 2,045 crore approx.) through sustainability-linked loans from international banks.

Vedanta Aluminium raises $250 million from international banks

{alcircleadd}

The ability of the borrower to satisfy sustainability goals is a factor in the interest rate of sustainability-linked loans. However, the company intends to use these funds for capital expenditure to achieve the decarbonization and safety performance criteria used to determine the loan terms.

The loan will fuel the company's expansion, including manufacturing value-added aluminium products. International banks from the Middle East and the Far East, such as Mashreq Bank, First Abu Dhabi Bank, and CTBC Bank, are among the lenders.

GAE 2023

Rahul Sharma, the CEO of the Vedanta aluminium business, said, "The funds raised via Sustainability Linked Loans will be invested towards growing our business sustainably and responsibly."

Edited By:


This news is also available on our App 'AlCircle News' Android | iOS


Alternate Text
EPIQ Machinery

A world class equipment designer specialized in developing innovative & effective solutions for heavy equipment, vehicles, and material handling systems

Alternate Text
RIA Cast House Engineering

Leading supplier of rail mounted precision Furnace Charging Machines and Furnace Skimming Machines

Alternate Text
Altek

Leading manufacturer of value-added equipment for the aluminum casthouse

Alternate Text
Jagannath Company

Manufacturers & Supplier of Magnesium Metal and Aluminium Foundry Chemicals.

Alternate Text
XIAN HUAN-TAI TECHNOLOGY

Your reliable partner in aluminum casthouse equipment and products

Related
Business Leads
We are looking for buyers of aluminium ingot A7. Delivery :...
17 Dec 2024 Selling offer

We have a requirement for aluminium ingot A7. Destination :...
17 Dec 2024 Buying request

We are looking for aluminium ingot A7. Purity : 99.6% Dest...
17 Dec 2024 Buying request

Read this news article and much
more on the AL News app
Get real-time news and business
lead alerts on your phone
SUBSCRIBE NOW
Market

Market

Project

Project

Technology

Technology

Leads

Leads