Export Development Canada to fund $100 Million to Hindalco

Hindalco will receive $100 million in financing from Export Development Canada or EDC, for its Mahan Aluminium Project in Madhya Pradesh. The agreement, signed a few days ago, will support the supply of technology and capital equipment to the project by subsidiaries of Canad'’s Rio Tinto Plc, operating under the umbrella of Aluminum Metals Group of Rio Tinto Plc.

The Mahan Aluminium Project consists of a 359-ktpa aluminium smelter and a 900-Mw captive thermal power plant.