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JSPL seeks to recast Rs 7500 crore debt: Report

09 Aug 2016 Evaluate

Jindal Steel & Power (JSPL), one of the leading steel manufacturing companies in India, is reportedly working to finalize an agreement with its lenders for bringing Rs 7,200-7,500 crore loan out of its steel portfolio under the 5x25 scheme of the Reserve Bank of India (RBI). The scheme allows banks to recast long-term loan for infrastructure and core industries through periodic release of funding along with initial moratorium on debt repayment.  The company with Rs 44,140 crore consolidated debt on its books as on March 31, 2016 had last year brought around Rs 3000 crore loan from its power portfolio under the scheme.

JSPL is a part of Jindal Group and is a leading player in Steel, Power, Mining, Oil & Gas and Infrastructure. The company produces economical and efficient steel and power through backward integration from its own captive coal and iron-ore mines and passes on the benefits to its customers.

 

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