NALCO to raise US$ 250-million by August

State-run aluminium producer, NALCO, will tap the overseas market to raise US$ 250-million by August-end for its ambitious capacity expansion plan. About 17 banks and merchant bankers including SBI, ICICI and Citi have responded to the expression of interest invited by Nalco to raise over US$ 250-million through the External Commercial Borrowings (ECB) route, a senior company official told PTI here. NALCO is undertaking a major expansion, including ramping up of its alumina capacity at the cost of Rs 5,040 crore (over US$ 1-billion).