Tata Steel is reportedly in talks to raise up to $five bn (over Rs 250bn) from a consortium of lenders to part-fund its domestic business expansion plans.
The company is expanding capacity of its Jamshedpur plant by three mtpa through brown-field expansion and also putting up a six mtpa greenfield facility at Kalinganagar in Odisha in two equal phases, report says.
Reports said that company has spent Rs 37bn up to March, 2012 in the Odisha project, which was proposed to be funded through a 65:35 debt-equity ratio.