The Rs 1422-crore company had initially planned a capacity of 5,000 tonnes per annum, but in view of the growing market for aluminium foils, which has prompted both Indal and India Foils to undertake major expansion of capacities, it has now decided to complete the project in two phases of 5,000 tonnes each.
The project cost of the first phase has been estimated at Rs 100 crore. The funding be through proceeds from Hindalco's last GDR of $100 million, as also through loans from term lending institutions.
The first phase of the project is slated for completion in late 1997, according to a source in the AV Birla company. The second phase will begin sometime in 1998.
Hindalco is currently undertaking a feasibility study to determine the phase II project cost. The source said that it was
