The company will meet with investors in India the US, UK, Hong Kong and Singapore to raise funding. The company originally planned to raise funds in July but postponed it until the autumn due to volatility in the stock markets.
The money will be used for ongoing projects such as production of alumina from the Utkal Alumina refinery, scheduled to start in July 2011. The construction of a 1.5Mt/y project at Rayagada, Orissa, is also in full swing.
The Mahan Aluminium project in Madhya Pradesh, with capacity production of 359kt/y is also expected to start production by July 2011.
The company is also building a 900MW captive power plant at Bargwan in Chhattisgarh.