Bhushan Steel has obtained lenders' approval for long-term restructuring of about Rs 30,000 crore loans under a scheme of Reserve Bank of India (RBI). The Joint Lenders Forum (JLF) has agreed to extend the loans of the company for a tenure of twenty five years under the RBI's scheme for long-term structuring of loans in line with cash flows. The company has a four-year moratorium on principal repayment. After this, there will be a 21-year repayment period, with a provision to refinance every five years.
Bhushan Steel is a globally renowned one of the leading prominent player in Steel Industry. Backed by more than two decades, of experience in Steel making, Bhushan Steel is now India’s 3rd largest Secondary Steel Producer company with an existing steel production capacity of 2 million tones per annum’s (approx). The company has three manufacturing units in the state of Uttar Pradesh (Sahibabad Unit), Maharashtra (Khopoli unit), and Orissa Plant (Meramandali unit) in India and sales network is across many countries.
