JSLto rejig 4,300 Rupees cr debt to fund expansion

摘要

STAINLESS steel major Jindal Stainless .(JSL) is planning to restructure its 4,300 Rupees crore debt to part fund the expansion of its Orissa project and avoid a possible default on the loans undertaken. "We will restructure the 4,300 Rupees crore debt, subject to approval by lenders. The restructuring will help us avoid shortfall in internal accruals earmarked for funding the second phase of expansion of the Orissa project and possible default in repayment of loan," said Arvind Parakh, director (strategy & business development) of JSL.