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Himadri Chemicals to raise $7 Million debt from IFC

By SiliconIndia   |   Tuesday, May 31, 2011
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Kolkata: IFC will lend around $7 million loan to Himadri Chemicals & Industries . The amount is part of $150 millione investment plan of Himadri,reports dealcurry. Himadri Chemical is investing in several projects with energy efficiency components in the form of fossil fuel abatements, power generations, reduced emission and CO2 credits amongst others. Its proposed project is located in a designated industrial area north of Kolkata. Incorporated in 1987, Himadri Chemicals is a producer of coal tar pitch which is utilized in the production of aluminum and graphite. It also produces carbon black which utilizes as feedstock various oils from the coal tar pitch manufacturing process. Earlier in Jan'10, Bain had acquired 15.4 percent stake in Himadri for 54.4 million dollar, post which it had to make an open offer as per the SEBI regulations. It acquired additional stake through open offer for 35 million dollar. Last year, Himadri Chemical had planned to spend about 400 million dollar to acquire three overseas firms. The company planned to fund the acquisitions using the borrowed funds secured by the assets of the target companies
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