Jindals to breathe easy on old debts

摘要

Calcutta, Feb. 9: Outstanding debts of Jindal Iron and Steel Company Ltd (jisco) and Jindal Vijaynagar Steel Ltd (JVSL) are expected to come down to Rs 3,500 crore by the end of the current financial year from Rs 4,100 crore. It may go down further to Rs 3,000 crore by March 2006 since the OP Jindal group is working towards a debt-equity ratio of 1:1. Even as old debts are being repaid, the firms are borrowing afresh for expansion plans.