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Vedanta Aluminium raises $250-M in sustainability-linked loans

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Vedanta Aluminium, India's largest producer of aluminium, has raised USD 250 million through Sustainability Linked Loans (SLLs) from international banks, for financing its capex initiatives and reducing carbon footprint. The lenders include banks from the Middle East such as Mashreq Bank, First Abu Dhabi Bank, Qatar National Bank QPSC and Taiwan's CTBC Bank. All the lenders have started term lending relationships with the Vedanta Group through this facility. This is Vedanta Group's first SLL facility. The loans were granted on the basis of performance parameters for decarbonization and safety. The funds will also be used to achieve a higher degree of backward integration and production of value-added aluminium products. Vedanta Aluminium manufactures more than half of India's aluminium i.e., 2.27 million tonnes in FY22. Vedanta Aluminium ranks 2nd in the Dow Jones Sustainability Index (DJSI) 2022 world rankings for aluminium industry.