April 24, 2012: Naveen Jindal-led JSPL will invest over Rs 10,000 crore in 2012-13 to part-fund its Rs 2 lakh crore capex plan that aims to ramp up its steel making capacity to 18 million tons in five years.
"We will be spending more than Rs 10,000 crore in FY'13 to part finance the ongoing expansions in our company. We had invested around the same amount last fiscal," JSPL Dy Managing Director and CEO (Steel Business) V R Sharma told reporters.
JSPL produces around 4.5 million tons per annum (mtpa) at its Raigarh plant in Chhattisgarh. It is now setting up three steel facilities at Angul in Odisha, Patratu in Jharkhand and Raigarh to raise capacity to 18 mtpa.
Besides, it is setting up a 4,200 MW captive power plants in Chhattisgarh and Jharkhand. The company is also investing Rs 45,000 crore in a Coal to Liquid project in Odisha.
Asked about financing the Rs 10,000 crore investment for the project, Sharma said the company was always maintaining a 2:1 debt-equity ratio for project funding.
Source: The Economic Times