"The company has successfully achieved financial closure of the Mahan project with the signing of common rupee loan agreement for Rs 7,875 crore on March 30," it said in a filing to the Bombay Stock Exchange.
It told the Bombay Stock Exchange in a filing that the loans arranged cover entire debt requirement for the project.
It added that Royal Bank of Scotland N.V and Kotak Mahindra Bank acted as lead arrangers for the loan, while 31 banks and insurance companies participated in the syndication.
The Mahan plant will also generate 900MW captive power from the project.
Hindalco is currently in various stages of construction of four aluminium smelting and one refining plant, apart from expansion of capacity at its existing facilities.