Surya Roshni has chalked out a major investment plan of Rs 20,000 crore for
setting up steel manufacturing and power plants through an associate company in
the next few years.
The company plans to set up a 500 MW power plant and a steel plant with a
capacity of five million tpa, both in Karnataka. The total investment in these
two projects will be around Rs 20,000 crore, which the company will raise
through a mix of debt and equity.
According to sources, the company plans to come out with an initial public
offering for these projects which is likely to be operated through a different
company called Surya Vijaynagar Power and Steel and it will also rope in foreign
investors for the purpose.
Also See:
Surya
Roshni to raise capacity at plants (04-Feb-10)