Mumbai: Rashtriya Ispat Nigam Ltd (RINL) targets to raise up to Rs600 crore debt to fund the Rs1,600 crore capex programmes outlined for the current fiscal. Disclosing the latest update about the state run firm, a senior official said, “RINL is currently raising its capacity to 6.3 MTPA from 3.6 MTPA. The said fund will be either raised through loans from banks or by issuing bonds having a tenure of minimum five years.”
The current capacity escalation being is implemented at RINL’s Vizag facility, wherein an investment of about Rs12,500 crore has been already outlined. The company however has already shed an investment of Rs9,000 crore for the said purpose.
Additionally, RINL will be also investing about Rs7,000 crore for modernization of its existing plant, which would raise its capacity further to 7.3 MTPA.
EPC World News Bureau