Mesco Steel to raise $400 mn through ECBs for capacity expansion

摘要

Mideast Integrated Steel Ltd (MISL). a Mesco Steel Group firm, plans to raise $400 million through external commercial borrowings (ECBs) to expand its steelmaking capacity at Kalinganagar from 1.2 mtpa at present to 3.5 million tonne per annum (mtpa). "We are now planning to increase the steel-making capacity of the plant to 3.5 mtp in two phases, for which we have an option to raise foreign debts as some banks are willing to pay the amount," said Rita Singh, chairperson and managing director, MISL.