Tata Steel Ltd.

Tata Steel would be requiring project financing loan of up to Rs 22,000 crore to fund its ongoing expansion in Odisha. The company is putting up six million tonnes per annum (mtpa) greenfield steel plant at Kalinganagar in the eastern Indian state of Odisha, the total cost of which is estimated to be at Rs 30,000 crore.

The loan, which is likely to be country's largest loan for the current 2012-13 financial year, will have a tenor of 10-11 years and is likely to pay 11.25% or less. The loan will be benchmarked against an existing facility in the market from the Aditya Birla Group’ Hindalco Industries.

On the consolidated basis, the group has reported rise fall of 88.82% in its net profit after taxes, minority interest and share of profit of associates at Rs 597.88 crore for Q1FY13 as compared to a net profit of Rs 5346.55 crore for Q1FY12. However, the total income of the group has increased marginally by 1.03% at Rs 34110.58 crore for Q1FY13 as compared Rs 33761.42 crore for the corresponding quarter previous year.