Steel Authority of India (SAIL) has been reported to have invited bids to raise at least Rs 400 crore through issue of short-term commercial paper on Tuesday. The state-run company was to issue commercial paper for 32 to 34 days or 85 to 89 days.
The company has said earlier that it is planning to spend Rs 3,800 crore in making projects eco-friendly. The projects, which would be taken up for implementation in its iron ore mines are expected to be completed by 2015. This follows comprehensive studies on Environmental Impact Assessment and Environmental Management Plan.
SAIL is India's largest steel producing company. With a turnover of Rs. 49,350 crore, the company is among the five Maharatnas of the country's Central Public Sector Enterprises. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
