Jindal Steel and Power (JSPL) has managed to raise Rs 3500 crore from consortium of lenders for funding the requirements for setting up the world’s biggest steel plant in Orissa, as mentioned in a media report. The debt will add to Jindal Steel's consolidated debt of Rs 14,716.8 crore as on March 31, 2012.
Little deferred from the date, the steel maker had proposed to set up the first phase of six-million tonnes per annum (mtpa) steel project by March 2012 in the state, the capacity of which is planned to be scaled upto 20 mtpa in next 10 years. The company would start operations with the commissioning of a two-mtpa steel plant in the first phase.
Recently, it was reported that the company is being probed for allegedly accessing iron ore from Sarada Mines, group's mining associate, at rates below the market price. Depriving the Odisha government of royalty, the rates charged for the mine ore that JSPL processed, largely for its own use, was about one-tenth of the prevailing rates fixed by Indian Bureau Mines (IBM).
| Company Name | CMP |
|---|---|
| Jindal Steel | 1269.50 |
| Lloyds Metals&Energy | 1622.70 |
| Jai Balaji Inds | 72.59 |
| Steel Exchange India | 8.96 |
| Rajputana Stainless | 125.90 |
| View more.. | |
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