Monnet Ispat has planned to raise Rs.150 crore as
debt for financing its Rs.230 crore sponge iron expansion project. Internal
accruals would contribute Rs.80 crore.
The company has planned to raise its sponge iron
capacity from 3 lakh to 7.4 lakh tpa at its Chhattisgarh plant. Out of the
Rs.150 crore debt requirement, State Bank of India would contribute Rs.100 crore
Citicorp International Finance will provide
Rs.35.27 crore corresponding to a hike in equity stake from 5.4 per cent to
19.56 per cent.
Related News
Monnet
Ispat plans sponge iron expansion project (12-Jun-04)